Closed Friday, October 18, 2024 · Lindsay, Garvin County, Oklahoma
The First National Bank of Lindsay
No bank in Oklahoma had failed for ten years, since The Freedom State Bank closed in 2014. The First National Bank of Lindsay's founding in 1902 put it past its 100th year when it closed.
On the books, 2016 to 2024
Total assets were at their highest of these 32 quarters in the final report, for the third quarter of 2024. Equity capital stayed close to 11% of assets from the fourth quarter of 2016 to the last report. By then 11% of its loans were 90 days or more past due or no longer accruing interest. The last quarterly report, for the third quarter of 2024, showed $114 million in total assets; ranks on this site use the FDIC's failure record, which differs. The deepest annual loss, $572 thousand, was booked in 2024 in only part of the year.* 2024: January to September only, the last report before closing.
Size and cost in context
Only one other bank failed in 2024: Republic First Bank dba Republic Bank of Philadelphia, Pennsylvania, larger at $5.9 billion. Within Oklahoma it ranks 29th by size of the 171 failures recorded since 1934.
Failures in Oklahoma
No bank in Oklahoma has failed since. No other failed bank in the FDIC's records was based in Garvin County.