Oklahoma Bank Shut Down by Regulator in 2nd Bank Failure of the Year

All FDIC-insured customer deposits remain safe and have been made available to their owners.

The Federal Deposit Insurance Corporation seal outside its headquarters in Washington on March 14, 2023. Manuel Balce Ceneta/AP Photo

The First National Bank of Lindsay was forced to cease operations after the Office of the Comptroller of the Currency (OCC) found the institution to be in a perilous financial position.

The Oklahoma-based First National Bank of Lindsay was shut down on Oct. 18 after the OCC identified “false and deceptive bank records and other information suggesting fraud that revealed depletion of the bank’s capital,” the agency said in an Oct. 18 statement. The OCC is a bureau under the Treasury tasked with regulating and supervising all national banks to ensure that they operate securely.