ENCOURAGING ANGELS: Oklahoma Bank Fails-FDIC Initially Makes Only 50 Percent of Funds Available to Uninsured Depositors-Last Year ALL Uninsured Depositors of Silicon Valley Bank Were Bailed Out

By Stan Szymanski

The Office of the Comptroller of the Currency (OCC) along with the Federal Deposit Insurance Corporation (FDIC) appointed as receiver closed The First National Bank of Lindsay in Oklahoma On Friday October 18, 2024.

After alleged bogus and disingenuous bank documents were identified, the OCC exposed other findings that uncovered deficiency in the banks’ capital. The assets of the institution were lessor than its creditor obligations.

It is reported that the FDIC has made the following statement:

…’For uninsured deposits, the FDIC has announced it will make 50 percent of those funds available to depositors starting Monday, October 21, 2024, with the possibility of increasing that amount as assets from the failed bank are sold. …(News 9)

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This is quite different than how the overseers of the United States banking system treated the deposits of uninsured accounts of Silicon Valley Bank in 2023 when ALL accounts were made whole:

…’The Federal Deposit Insurance Corporation (FDIC) today transferred all deposits—both insured and uninsured—and substantially all assets of the former Silicon Valley Bank of Santa Clara, California, to a newly created, full-service FDIC-operated ‘bridge bank’ in an action designed to protect all depositors of Silicon Valley Bank’…(FDIC March 13, 2023)

People (billionaires), and businesses with as much as $500 Million dollars on deposit at SVB (Roku) were bailed out by the government last year.

Is this new assertion by the FDIC to only assure 50% of uninsured deposits an indication of future unwillingness to make these large depositors whole? What does this say for the actual stability of the U.S. banking system when the response to one modest bank in Oklahoma being taken over changes how the ‘insurers’ of the system react?

By the way, The First National Bank of Lindsay only has -one- office location according to News 9.

Things appear to changing. And for the American people it appears to mean more uncertainty amongst a backdrop of national uneasiness and disgust in the collective reverberation to recent political responses to tragedy.

Food, water, energy, shelter, protection, communications and consideration of the acquisition of precious metals for the average person looms larger than ever.

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Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice. For informational purposes only.