Smallest Bank in US Is So Small It’s a Struggle Just to Survive

James A. Sammons may well be the chief executive officer of America’s smallest bank. With $3 million in assets, Kentland Federal Savings and Loan is definitely the smallest member of the Independent Community Bankers of America (ICBA), a trade organization for small banks. If you Google “smallest bank in America,” you’ll see stories about a Michigan bank with $700,000 in assets (it got bought in 2007) and a Texas bank with $2 million in deposits (acquired in 2017). Perhaps most definitively, the Federal Deposit Insurance Corp. was able to verify that, yes, Kentland does indeed have ...