A Santa Anna, Texas, bank was closed late Friday by the national bank regulator, becoming the second bank to fail so far this year.
Santa Anna National Bank was closed by the Office of the Comptroller of the Currency (OCC), the agency said. Coleman County State Bank of Coleman, Texas, acquired the insured deposits of the failed bank.
Santa Anna, the OCC said, held total assets of $63.8 million and total deposits of $53.8 million as of June 18. The agency said about $2.8 million of the deposits exceeded Federal Deposit Insurance Corp. (FDIC) deposit insurance limits. The OCC said that amount is likely to change once the FDIC obtains additional information from customers.
“Once further information is available, the FDIC will consider whether to provide uninsured depositors an advance dividend (i.e. access to a portion of their uninsured funds) and will provide more information at that time,” the OCC said.
While Friday’s failure of the Santa Anna followed that of Pulaski Savings Bank of Chicago in January, the bank was the first to fail in Texas in six years, the OCC said. The last failure in Texas was The Enloe State Bank of Cooper, Texas on May 31, 2019, according to the agency.
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