Mmastodon BusinessBanking first seen 18 h ago, last 1 h ago, peak #3
FDIC declares Old Glory Bank severely undercapitalized
Original: Old Glory Bank is 'severely undercapitalized,' FDIC says The bank has struggled to turn a profit despite growth in depos
The FDIC has determined that Old Glory Bank is severely undercapitalized, according to American Banker. The Oklahoma-based bank, founded as a conservative-focused institution, has grown deposits rapidly, from $10 million in 2023 to more than $245 million by the end of 2025, but has struggled to turn a profit despite that expansion. Regulators now face questions about the bank's financial footing and its ability to meet capital requirements.
Why now: Regulatory action against a politically prominent bank with rapid deposit growth is raising concerns about its stability.
Old Glory BankFDICAmerican Banker
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