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Former Rexburg bank employee accused of embezzling around $90,000

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REXBURG — A former employee at a Bank of Commerce in Rexburg is accused of embezzling around $90,000 from the bank.

A federal indictment was issued April 14 for Dale L. Lounsbury, 45, for the felony charge of embezzlement by a bank employee. According to the indictment obtained by, Lounsbury did “willfully embezzle and misapply” tens of thousands of dollars between May and August 2020.

Charging documents do not indicate how the money was stolen, specifically where it came from, or what Lounsbury’s job at the bank was.

However, Lounsbury listed himself on LinkedIn as a VP/Manager at the bank.

“The Bank of Commerce has received confirmation from the United States Attorney’s Office and Federal Bureau of Investigation that a former employee, Dale Lounsbury, has recently been indicted on the charge of embezzlement by a bank employee,” Bank of Commerce President and CEO Thomas J Romrell said in an emailed statement. “This matter was referred to the FBI and other appropriate Federal agencies to investigate, which resulted in Mr. Lounsbury’s indictment. The Bank has worked closely with the FBI and will continue to cooperate with law enforcement.”

The bank further said its policy is to not discuss pending legal matters. They did say Lounsbury’s employment at the bank ended in August.

Although Lounsbury is accused of a crime, it does not necessarily mean he committed it. Everyone is presumed innocent until proven guilty.

If convicted, Lounsbury could be ordered to spend up to 30 years in federal prison and or pay up to a $1 million fine.

Lounsbury was issued a summons to appear for a video arraignment before a judge on May 11.