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The Federal Deposit Insurance Corp. took over the $63.8 million-asset bank, and agreed to sell its deposits and some of its assets to Coleman County State Bank.
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“The FDIC preliminarily estimates that the failure will cost its Deposit Insurance Fund (DIF) about $23.7 million,” the FDIC said in a release. This loss estimate will change over time as the assets are sold. Suspected fraud contributed to the failure of the bank and estimated cost to the DIF.”
This failure will cost the FDIC less than the previous one, Pulaski Savings Bank, which was estimated to cost the DIF about $28.5 million to wind down.
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The OCC closed Pulaski Savings Bank in January, saying in a release that it also suspected fraud in that situation.
Millennium Bank in Des Plaines, Illinois, assumed Pulaski Savings Bank’s deposits. The only office of the Pulaski Savings Bank resumed as a branch of Millennium Bank on Jan. 18.
Catch up on the most recent bank failures:
| The Santa Anna National Bank | Santa Anna, TX | 6/27/2025 |
