Second Federal Savings and Loan Association of Philadelphia Assumes All Deposits of Tioga-Franklin Savings Bank, Philadelphia

WASHINGTON-Tioga-Franklin Savings Bank in Philadelphia was closed today by the Pennsylvania Department of Banking and Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into an agreement with Second Federal Savings and Loan Association of Philadelphia to assume all deposits and purchase substantially all assets of Tioga-Franklin Savings Bank.

As of June 30, 2026, Tioga-Franklin Savings Bank reported total assets of $68 million and total deposits of $67 million.

Tioga-Franklin Savings Bank's sole branch will reopen as a branch of Second Federal Savings and Loan Association of Philadelphia during its normal business hours on Monday, August 24, 2026. Depositors of Tioga-Franklin Savings Bank will automatically become depositors of Second Federal Savings and Loan Association of Philadelphia. The deposits assumed by Second Federal Savings and Loan Association of Philadelphia will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship.

Customers of Tioga-Franklin Savings Bank will have immediate access to their deposits. Over the weekend, they can access their deposits by writing checks or using ATM or debit cards. Checks drawn on Tioga-Franklin Savings Bank will continue to be processed. Loan customers should continue to make their payments as usual.

Customers with questions should contact the FDIC toll-free at 1-866-314-1744 or visit the FDIC's website. This phone number will be operational this evening until 9:00 p.m., Eastern Time (ET); on Saturday from 9:00 a.m. to 6:00 p.m., ET; Sunday from noon to 4:00 p.m., ET; and thereafter, weekdays from 9:00 a.m. to 5:00 p.m., ET.

The FDIC preliminarily estimates that the failure will cost the Deposit Insurance Fund approximately $5.5 million. The estimate will change over time as retained assets are sold.