|
WASHINGTON — Kentland Federal Savings and Loan Association of Kentland, Indiana was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into an agreement with Kentland Bank of Kentland, Indiana (no affiliation with Kentland Federal Savings and Loan Association) to purchase substantially all assets and assume all deposits of Kentland Federal Savings and Loan Association.
As of March 31, 2026, Kentland Federal Savings and Loan Association reported total assets of $3.73 million and total deposits of $3.65 million. It was the smallest standalone bank in the United States.
The sole branch of Kentland Federal Savings and Loan Association will permanently close. Depositors of Kentland Federal Savings and Loan Association will automatically become depositors of Kentland Bank. The deposits assumed by Kentland Bank will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship. The Kentland branch of Kentland Bank is located at 111 N 4th St, Kentland, Indiana 47951, and the phone number is 219-474-1500.
Customers of Kentland Federal Savings and Loan Association will have immediate access to their deposits at all branches of Kentland Bank during normal business hours beginning Monday, July 13, 2026. Loan customers of Kentland Federal Savings and Loan Association should make payments to Kentland Bank at any branch of Kentland Bank.
Customers with questions about this transaction may visit the FDIC’s website or contact the FDIC toll-free at 1-866-314-1744. This phone number will be operational this evening until 8:00 p.m., Central Time (CT); on Saturday from 9:00 a.m. to 5:00 p.m., CT; on Sunday from noon to 4:00 p.m., CT; Monday from 8:00 a.m. to 5:00 p.m., CT; and thereafter from 8:00 a.m. to 4:00 p.m., CT.
The FDIC preliminarily estimates that the failure will cost the Deposit Insurance Fund approximately $1.2 million.
|
