Reasons for the La Coste National Bank Closure

As I mentioned in my Friday bank failure review, there was one bank that was closed on Friday that had a 5-star rating at BauerFinancial. This was the small La Coste National Bank which is located west of San Antonio, Texas. The reason for the surprise closure may have been due to fraud. This was reported today by TheStreet:

La Coste National Bank in Texas failed Friday due to "fraudulent activity," an Office of the Comptroller of the Currency official told TheStreet.