Federal Deposit Insurance Corporation enters purchase and assumption deal for The Santa Anna National Bank with Coleman County State Bank

The Federal Deposit Insurance Corporation (FDIC) has been appointed receiver for The Santa Anna National Bank after it was closed by the Office of the Comptroller of the Currency, and has entered into a purchase and assumption agreement with Coleman County State Bank to assume the failed bank’s insured deposits and some assets. The failed bank’s sole office is scheduled to reopen on June 30, 2025 as a branch of Coleman County State Bank, with depositors automatically becoming customers of the acquiring bank and retaining FDIC insurance coverage. As of June 18, 2025, The Santa Anna National Bank reported total assets of USD 63.8 million and total deposits of USD 53.8 million, including approximately USD 2.8 million in deposits above FDIC insurance limits, which the FDIC noted may change as it obtains additional customer information. Coleman County State Bank agreed to assume the insured deposits for a 5.16% premium, while the FDIC will retain a large portion of the failed bank’s assets for later disposition; the FDIC preliminarily estimated a USD 23.7 million cost to the Deposit Insurance Fund, and stated that suspected fraud contributed to the failure and estimated cost. Once additional information is available, the FDIC will consider whether to pay uninsured depositors an advance dividend and provide further details. The FDIC also indicated that depositors with more than USD 250,000 in deposits can arrange an appointment to discuss coverage and, from June 30, use its “Is My Account Fully Insured?” tool.