The Pennsylvania Department of Banking and Securities closed Tioga-Franklin Savings Bank and appointed the Federal Deposit Insurance Corporation as receiver. The FDIC agreed with Second Federal Savings and Loan Association of Philadelphia to transfer all deposits and substantially all assets of the failed bank. Tioga-Franklin reported USD 68 million in assets and USD 67 million in deposits as of June 30, 2026. Tioga-Franklin’s sole branch will reopen as a Second Federal branch on August 24, 2026. Customers will retain immediate access to their funds, and the transferred deposits will remain FDIC-insured. The FDIC preliminarily estimates the failure will cost the Deposit Insurance Fund about USD 5.5 million, subject to change as retained assets are sold.
2026-08-21Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation arranges transfer of Tioga-Franklin deposits and assets to Second Federal after closure
The FDIC arranged for Second Federal Savings and Loan Association of Philadelphia to assume all deposits and substantially all assets of the closed Tioga-Franklin Savings Bank. The bank’s sole branch will reopen on August 24, 2026, and customers will retain immediate access to insured deposits. The Deposit Insurance Fund faces an estimated USD 5.5 million cost.