Santa Anna National Bank of Santa Anna, Texas, failed.
The $63.8 million-asset bank was closed by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC sold most of the bank’s $53.8 million of deposits to Coleman County State Bank of Coleman, Texas, at a 5.16% premium.
About $2.8 million of the deposit exceeded FDIC insurance limits.
Coleman County also agreed to buy some of the failed bank’s assets.
The FDIC estimated that the failure would cost the Deposit Insurance Fund about $23.7 million.
At March 31, Santa Anna National had about $77 million in assets and roughly $71 million in deposits.