Bank Manager Reagan France Pleads Guilty to $335K Theft Scheme

Reagan France, 36, a former branch manager at Home Savings Bank in Ludlow, Kentucky, pleaded guilty on September 10 to bank fraud, theft by a bank employee, and aggravated identity theft. She admitted to stealing approximately $335,182 from more than 20 customer accounts and two nonprofit organizations between 2022 and 2024. France used forged withdrawal slips, other employees’ credentials, and fraudulent transfers to conceal the thefts. She must pay at least $250,000 in restitution, with sentencing scheduled for January 13, 2027.

How the scheme worked

France worked at Home Savings Bank starting in 2015 and became branch manager in 2023. Her access to customer account numbers and names enabled the theft. She used two primary methods: transferring money from customer accounts into accounts she controlled ($107,893.04) and withdrawing cash directly using forged slips ($109,821). She also moved money between customer accounts to hide the crimes and allowed her own checking account to carry a deficit exceeding $40,000.

Victims included nonprofits she volunteered for

France stole tens of thousands of dollars from two Ludlow nonprofit organizations where she volunteered. Members of these organizations discovered suspicious transactions on their accounts in early 2025, which prompted the investigation. The bank’s president first noticed discrepancies in August 2024 when cash in France’s teller drawer did not match recorded transactions. When confronted, France indicated she expected to be terminated.

Restitution and sentencing

France agreed to pay restitution of at least $250,000, offset by $173,712.81 already recovered. She also agreed to a forfeiture judgment of $76,287.19. The aggravated identity theft charge carries a mandatory two-year prison sentence. Prosecutors agreed to seek dismissal of 19 remaining counts at sentencing. Her hearing is set for January 13, 2027.

Bank and law enforcement response

Home Savings Bank stated that affected customers have been reimbursed and the bank cooperated fully with law enforcement. U.S. Attorney Jason Parman said the case demonstrates that financial crimes from positions of trust will be prosecuted. Kentucky Attorney General Russell Coleman called the outcome necessary accountability for betraying customer trust.

Final Thoughts

France’s guilty plea underscores the risk posed by insider threats in banking. With mandatory prison time and substantial restitution ordered, the case signals serious consequences for employees who exploit customer trust for personal gain.

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