A former Texas bank executive faces a felony theft charge after being accused of diverting $193,810.90 from customer accounts at Citizens Bank in Abilene, according to court records and local reports.
Josiah Kennedy served as a vice president and lending officer at the bank from February 2020 until his termination on Oct. 31, 2023. Citizens Bank discovered the alleged activity after Kennedy's firing, an affidavit states.
Allegations
The affidavit alleges that between January 2022 and October 2023, Kennedy directed employees to withdraw money from customer accounts, billed clients for services they did not receive, and withdrew funds without authorization.
Funds were allegedly deposited into accounts tied to Kennedy or sent by cashier's check to P & P Services, an account the affidavit says he owned at First Financial Bank. The affidavit also alleges Kennedy arranged a loan for another person that benefited him personally, with proceeds funding a cashier's check to P & P Services and payments to his landscapers.
Investigation and charges
Court documents show the FBI contacted Abilene police about the case, and at least eight bank customers were affected, according to local reports. Kennedy was booked into the Taylor County Jail on a felony theft charge and released after posting a $150,000 bond.
In a 2025 consent order with the Office of the Comptroller of the Currency, Kennedy agreed to be barred from the banking industry without admitting or denying wrongdoing.
