Failures

The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.

The Santa Anna National Bank in Central Texas is the second bank to fail this year.

Pulaski Savings Bank's failure will cost the FDIC's Deposit Insurance Fund 57.6% of its total assets.

When a Chicago bank crashed, delivering a major blow to the Deposit Insurance Fund, regulators said they suspected fraud. Historically, that's a common story.

Acting Chair Travis Hill's push for quick weekend bank sales signals a break from past crisis strategies — but some experts warn of higher costs and increased consolidation risks

President Trump's tariff regime and resulting price shocks may put additional pressure on small banks, requiring an already undermanned Federal Deposit Insurance Corp. to turn to assisted M&A deals to resolve failed banks, accelerating consolidation in the industry.

The Chicago-based bank, which failed Friday in the first bank failure of 2025, caused a $28.5 million hit to the Deposit Insurance Fund. The FDIC was appointed receiver and Millennium Bank will assume all deposits.

The agency had been on the verge of downgrading Philadelphia-based Republic First Bancorp's CAMELS rating to the lowest level but opted for a less severe remedy after a November 2020 visit.

The Office of the Comptroller of the Currency is referring the issue to the Department of Justice. The failure of the $107.8 million bank will also cost the Deposit Insurance Fund an estimated $43 million.

Shan Hanes, who led Heartland Tri-State Bank in Kansas until it failed last year, pleaded guilty to one count of embezzlement by a bank officer. He now faces up to 30 years in prison. He is scheduled to be sentenced on Aug. 8.