The Santa Anna National Bank was closed by the Federal Government on June 27, and immediately acquired by the Coleman County State Bank.

According to a statement released by the Federal Deposit Insurance Corporation (FDIC) on June 27, “The Santa Anna National Bank of Santa Anna, Texas, was closed today by the Office of the Comptroller of the Currency (OCC), which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into a purchase and assumption agreement with Coleman County State Bank of Coleman, Texas, to assume the insured deposits and some of the assets of the failed institution.” The FDIC statement also says “Depositors of the failed bank will automatically become depositors of Coleman County State Bank. The insured deposits assumed by Coleman County State Bank will continue to be insured by the FDIC so there is no need for customers to change their banking relationship to retain their deposit insurance coverage.”

The following statement was released on June 27 by the Office of the Comptroller of the Currency: “The Office of the Comptroller of the Currency (OCC) today appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for the The Santa Anna National Bank, Santa Anna, Texas. As of March 31, 2025, the bank reported approximately $77 million in total assets. The OCC acted after finding the bank had experienced substantial dissipation of assets and earnings due to unsafe or unsound practices. The OCC also found the bank was in an unsafe or unsound condition to transact business and that the bank’s assets were less than its obligations to its creditors and others.”

The FDIC report further reports that “As of June 18, 2025, The Santa Anna National Bank reported total assets of $63.8 million and deposits of $53.8 million.” Later in the report the FDIC stated “Suspected fraud contributed to the failure of the bank and estimated cost to the DIF (Deposit Insurance Fund).”

The Board of Directors of the Santa Anna National Bank consisted of Ruth Ann McIver, Scott A. Morelock, Robert J. Cheaney II, Nesa Setzler, Julia Taylor, and Shana DeLeon. Top officers included Scott A. Morelock, Chief Executive Officer; Robert J. Cheaney II, President; and Shana DeLeon, Executive Vice-President.

Customers of The Santa Anna National Bank who would like more information can call 866-314-1744, or visit this FDIC website.