Bank Failure Alert (suspected fraud) - The Santa Anna National Bank

6/27/25 - The Santa Anna National Bank of Santa Anna, TX (FDIC 5520; total assets $76.9M; total deposits $71.4M; equity capital $5M as of the 3/31/25 Call Report), was closed today by the Office of the Comptroller of the Currency (OCC) due to “suspected fraud.”  The FDIC stated “as of 6/18/25, The Santa Anna National Bank reported total assets of $63.8 million and total deposits of $53.8 million. Approximately $2.8 million of the deposits exceeded FDIC insurance limits, an amount that is likely to change once the FDIC obtains additional information from customers.”
​Coleman County State Bank (FDIC 15480; total assets $221M as of 3/31/25 Call Report) agreed to assume the insured deposits for a 5.16% premium.

• The FDIC preliminarily estimates that the failure will cost its Deposit Insurance Fund (DIF) about $23.7 million.
• Source - FDIC: Coleman County State Bank acquires Insured Deposits of The Santa Anna National Bank.

Additional FedFis insights:

• The FDIC estimated cost to the DIF of $23.7M is extremely large considering $53.8M in total deposits as of 6/18/25 (meaning this fraud was likely very substantial in nature).
• Worth noting that the FDIC decided to post an interim deposit total “as of 6/18/25” as opposed to simply referencing the 3/31/25 call report data (a material decrease of $17.6M, or 25%, of total deposits since the 3/31/25 call report).
• This is the second bank to fail in the nation this year. The last bank failure was Pulaski Savings Bank of Chicago (FDIC 28611) on January 17, 2025 – which was also suspected fraud.

 
 
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Sean Mayo
Sr. VP, US Financial Institutions Group
[email protected]