Introduction to Problem Banks eBook

10/21/24, 8:55 AM

Oklahoma bank fails amid claims of 'false and deceptive bank records' | American Banker

The DIF, which withstood the failure of Silicon Valley Bank and other large regional banks last year, recently stood at $129.2 billion, up $7.5 billion from the end of last year.

That put the pot ahead of schedule — before the most recent failure — to the legally required level of 1.35% by 2026. Some large banks had to make extra payments to cover the losses from the regional banking crisis in 2023.

This is the second bank failure of 2024. Republic First Bank — whose underwater bond troubles mirrored those at First Republic Bank and Silicon Valley Bank — was closed by its state regulator in April. Fulton Bank in Lancaster, Pennsylvania, assumed substantially all of Republic First's $6 billion of assets and $4 billion of deposits.

Claire Williams Reporter, American Banker

For reprint and licensing requests for this article, click here.

POLITICS AND POLICY

FAILURES

BANKING CRISIS 2023

https://www.americanbanker.com/news/oklahoma-bank-fails-amid-claims-of-false-and-deceptive-bank-records?utm_campaign=NL_AB_Daily_Briefing… 4/8