Fraud alleged in failure of First National Bank of Lindsay
The First National Bank of Lindsay, Oklahoma was a small $107 million asset bank that was closed in October of 2024. It was the second bank failure of 2024. In 2024, the OCC stated, “after identifying false and deceptive bank records and other information suggesting fraud that revealed depletion of the bank’s capital, the lender was in an unsafe or unsound condition to transact business.” Now the former CEO, Danny Seibel, has been indicted by a federal grand jury on charges of bank fraud. This episode reviews an article from Banking Dive titled “Ex-CEO of failed Oklahoma bank indicted on…
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