Introduction to Problem Banks eBook

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October 18, 2024 Oklahoma bank fails amid claims of 'false and deceptive bank records’ On Friday, Oct. 18, the First National Bank of Lindsay in south central Oklahoma, was reported closed by the Department of Treasury’s Office of Comptroller of the Currency over “false and deceptive” bank records. A member of the Federal Deposit Insurance Corp. (FDIC), First National was the first bank since April 26 to be shut down by federal regulators. Two days later, it reopened as First Bank and Trust Co., based in Duncan, Oklahoma. The agency projects that the failure will cost the DIF $43 million.

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October 18, 2024 Republic First becomes the first FDIC-insured bank failure of 2024 The news: Last Friday, Pennsylvania financial regulators seized and shut down Philadelphia-based Republic First Bank in the first FDIC-insured bank failure of 2024. • The deposit insurance fund is expected to pay out $667 million to cover the bank’s failure.

Full article: https://www.emarketer.com/content/republic-first-becomes-first fdic-insured-bank-failure-of-2024