Failed bank’s former CEO pleads guilty to fraud charge

A former president and CEO of First National Bank of Lindsay pleaded guilty to a single count of bank fraud.

The Oklahoma bank failed in October 2024 and was sold to First Bank & Trust in Duncan, Okla.

Danny Seibel, who was fired as the bank’s CEO a month before it failed, was indicted last December. He was accused of making loans to friends and neighbors without seeking repayment.

Seibel admitted in court that he knowingly participated in a scheme to defraud the bank. He faces up to 30 years in prison and a fine of up to $1 million.