Bank failure in Lindsay leads to FDIC intervention

LINDSAY, Okla. (KFOR) — Residents in the town of Lindsay are facing a rare bank closure after The First National Bank of Lindsay closed its doors on Friday.

Under the direction of the FDIC protecting depositors, officials expect to re-open the bank as The First Bank and Trust Company of Duncan.

The FDIC says, there is a purchase agreement on the table with depositors having 50% access funds available to depositors by Monday.

The cost of the failure is estimated at $43 million.