WASHINGTON—The Office of the Comptroller of the Currency (OCC) today appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for The First National Bank of Lindsay, in Lindsay, Oklahoma. As of June 30, 2024, the bank reported approximately $108 million of total assets.
The OCC acted after identifying false and deceptive bank records and other information suggesting fraud that revealed depletion of the bank’s capital. The OCC also found that the bank was in an unsafe or unsound condition to transact business and that the bank’s assets were less than its obligations to its creditors and others.
The OCC is also referring this matter to the United States Department of Justice, which has a wide variety of tools to hold individuals accountable for criminal acts and focuses on victims in all of its matters.
The FDIC will release information about the resolution of the bank.