They are rated by the Federal Deposit Insurance Corporation (FDIC). The bank I stand behind here is no longer the First National Bank of LINDSAY. Logos and ownership are all changing today. That’s because a federal agency shut them down, saying they had false and deceptive records indicating fraud. I saw someone on Facebook and it was really, really, really shocking, you know, and it was just so tragic. A LONG LONG BANK SERVING THE LINDSAY COMMUNITY. I opened my account here when I was 15 years old. LYNN SCRUGGS HAS AN ACCOUNT AT THE FIRST NATIONAL BANK OF LINDSAY FOR 60 YEARS. Today, he and many others in town see the Federal Deposit Insurance Corporation, or FDIC, operating inside the bank. If you look out there in the parking lot, there were probably 50 or 60 people inside that bank there. Trying to get things in order this morning, they can open their doors Monday morning at 9:00. I spoke to the FDIC today. They say accounts worth $250,000 or less are fully insured. However, they are still working to figure out how much those with more than $250,000 will receive. I certainly don’t have $250,000 or more in that bank, but I’m sure there are some people in the community who have more assets in the bank than that. I imagine they are scratching their heads to see what will happen. This bank is the second bank in the country to fail this year. The last bank to fail in Oklahoma was Freedom State Bank in 2014. The people in this city are resilient, and we will work through it. Now, customers are still able to use their checks and ATMs, and there could be more to the story. The federal agency that shut them down sent this letter to the US Department of Joe
The Oklahoma bank failed, and the federal agency closed it
The Office of the Comptroller of the Currency closed Lindsay Bank on Friday due to “false and misleading bank records” indicating fraud.
Updated: 11:38 AM CDT on October 20, 2024
The Office of the Comptroller of the Currency closed Lindsay Bank on Friday due to “false and misleading bank records” indicating fraud. Get the latest interesting news by clicking here. On Friday, the agency appointed the Federal Deposit Insurance Corporation as the bank’s receiver. First National Bank of Lindsay, according to a news release. The OCC reported that the bank was in an “unsafe or unsound condition for transacting business” and that the bank’s assets were less than its liabilities to creditors and others. As of June 30, the bank reported about $108 million in total assets. The FDIC “entered into a purchase and assumption agreement with First Bank & Trust Co.” Duncan will take over the bankrupt bank’s insured deposits, according to a news release. The bank will assume the insured deposits for a 6.67% premium and will also buy about $20 million of the bankrupt bank’s assets, according to the press release. >> Download the KOCO app 5 The FDIC said Lindsay Bank will reopen Monday and deposits will continue to be insured by the FDIC, so “there is no need for customers to change their banking relationship to retain KOCO insurance coverage.” Their deposits. “As of June 30.” In 2024, First National Bank of Lindsay reported total assets of $107.8 million and total deposits of $97.5 million. Approximately $7.1 million in deposits exceeded FDIC insurance limits; This amount will likely change once the FDIC obtains additional information from customers. “Customers with accounts over $250,000 should call the FDIC toll-free at 1-866-314-1744 to schedule an appointment to discuss their deposits,” FDIC officials wrote in a news release. FDIC officials reported that the last bank failure in Oklahoma was Freedom State Bank in June 2014. TOP HEADLINES: Oklahoma City store clerk found dead by customer Few details have been revealed. Butterball makes the worst part of cooking a Thanksgiving turkey so much easier. Police: Homicide detectives respond to death investigation. In northwest OKC, Oklahoma volunteer firefighter dies leaving station devastated, witness describes ‘frantic’ moments as suspect runs into Quail Spring Mall after chase
The Office of the Comptroller of the Currency closed Lindsay Bank on Friday due to “false and misleading bank records” indicating fraud.
Get the latest news that interests you by clicking here.
The agency on Friday appointed the Federal Deposit Insurance Corporation as receiver for First National Lindsay Bank, according to a news release.
The OCC reported that the bank was in an “unsafe or unsound condition to do business” and that the bank’s assets were less than its liabilities to creditors and others. As of June 30, the bank reported total assets of about $108 million.
The FDIC entered into a “Purchase and Assumption Agreement with First Bank & Trust Co.” Duncan to take over insured deposits from the bankrupt bank, according to a press release.
The bank will assume the insured deposits at a 6.67% premium and will also buy about $20 million of the bankrupt bank’s assets, according to the press release.
>> Download the KOCO 5 app
Lindsay Bank will reopen Monday and deposits will continue to be insured by the FDIC, so “there is no need for customers to change their banking relationships to retain their deposit insurance coverage,” the FDIC reported.
“As of June 30, 2024, First National Bank of Lindsay reported total assets of $107.8 million and total deposits of $97.5 million. Approximately $7.1 million of deposits exceeded FDIC insurance limits; from This amount is likely to change once the FDIC receives additional information from customers. “Customers with accounts over $250,000 should call the FDIC toll-free at 1-866-314-1744. to schedule an appointment to discuss their deposits,” FDIC officials wrote in a news release.
The last bank failure in Oklahoma was Freedom State Bank in June 2014, FDIC officials reported.
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