First Bank & Trust Co. of Duncan assumes FDIC-insured deposits
New signs were in place Monday as the failed First National Bank of Lindsay reopened as a branch of the Duncan-based First Bank & Trust Co. Federal regulators closed the bank Oct. 18, after identifying false and deceptive bank records and other information suggesting fraud and depletion of the bank’s capital.
The First National Bank of Lindsay reopened Monday as a branch of the First Bank & Trust Co. of Duncan, after the Office of the Comptroller of the Currency closed the bank last Friday and appointed the Federal Deposit Insurance Corporation as receiver.
To protect depositors, the FDIC entered into a purchase and assumption agreement with First Bank & Trust Co. of Duncan to assume the failed …
