The Office of the Comptroller of the Currency (OCC) has closed the Santa Anna National Bank in Santa Anna, Texas, citing suspected fraud as a contributing factor to the bank’s failure. The Federal Deposit Insurance Corporation (FDIC) has taken over and entered into a purchase and assumption agreement with Coleman County State Bank to take over the insured deposits and some of the assets of the failed institution.
The FDIC has estimated that the failure will cost its Deposit Insurance Fund (DIF) approximately $23.7 million, a preliminary estimate that will change over time as the assets are sold. The bank’s sole office will reopen on Monday, June 30, 2025, as a branch of Coleman County State Bank, with depositors automatically becoming customers of the new bank. The insured deposits will continue to be insured by the FDIC, and customers will not need to change their banking relationship to retain their deposit insurance coverage.
As of June 18, 2025, the Santa Anna National Bank reported total assets of $63.8 million and total deposits of $53.8 million. However, approximately $2.8 million of the deposits exceeded FDIC insurance limits, and the agency will consider providing an advance dividend to uninsured depositors once further information is available. Customers with accounts greater than $250,000 are advised to contact the FDIC to discuss their deposits.
The FDIC has set up a toll-free number for customers to call and discuss their deposits. The number will be operational from 9:00 p.m. Central Time (CT) today until 9:00 p.m. CT, and on Saturday from 9:00 a.m. to 6:00 p.m. CT, Sunday from 12:00 p.m. to 6:00 p.m. CT, Monday from 8:00 a.m. to 8:00 p.m. CT, and thereafter from 9:00 a.m. to 5:00 p.m. CT. Customers can also visit the FDIC’s website for more information.
Coleman County State Bank has agreed to assume the insured deposits for a 5.16 percent premium. The FDIC will retain a large portion of the assets of The Santa Anna National Bank for later disposition. The Santa Anna National Bank is the second bank to fail in the nation this year, following the closure of Pulaski Savings Bank of Chicago on January 17, 2025.
The failure of the bank highlights the ongoing concerns about the stability of the banking system. The FDIC has taken steps to mitigate the impact of the failure, including entering into a purchase and assumption agreement with Coleman County State Bank. However, the failure of the bank also raises questions about the role of suspected fraud in the bank’s downfall.
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Key Facts
- Agency: FDIC
- Category: Banking & Finance
- Source: Official Source â†â€â€ÂÂ
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