The U.S. Department of Justice announced that Danny Seibel, the former president and Chief Executive Officer of the now-defunct First National Bank of Lindsay, pleaded guilty to one count of bank fraud. The case centers on loans issued to certain customers, including personal friends and neighbors, that were not repaid, with the bank’s records and reports then manipulated to make the loans appear to be performing. According to court documents, Seibel was an executive at the bank from around February 2007 until his termination in September 2024. He allegedly used new loans or transfers of the bank’s own funds to cover overdrafts on outstanding loans and falsified reports to overstate loan performance. The Office of the Comptroller of the Currency appointed a receiver for the bank in October 2024. Seibel faces up to 30 years in prison and a fine of up to USD 1 million, with sentencing still to be scheduled.
U.S. Department of Justice 2026-05-07
U.S. Department of Justice secures guilty plea from former First National Bank of Lindsay chief executive in bank fraud case
The U.S. Department of Justice announced that the former president and Chief Executive Officer of the now-defunct First National Bank of Lindsay, Danny Seibel, pleaded guilty to one count of bank fraud related to manipulated loan records and reports. Court documents state that Seibel used new loans or bank funds to cover overdrafts and falsified reports to overstate loan performance before the Office of the Comptroller of the Currency appointed a receiver. He faces up to 30 years in prison and a fine of up to USD 1 million, with sentencing pending.