The Penny Is Retiring.

Here is what that means for you.

In late 2025, the U.S. Treasury announced the decision to end production of the penny. As a result, the Federal Reserve is limiting penny distribution, which affects the inventories held at financial institutions.

It’s important to note that pennies in circulation remain legal tender. There are no immediate plans to remove them from use.

MidFirst Bank is committed to proactively managing penny inventory to best serve our customers and clients. We will continue to facilitate customer requests for pennies as our supply allows. We may limit penny orders based on our supply or round transactions in your favor to the nearest nickel.

For additional details, please review our FAQs below or visit the Federal Reserve Penny Order and Deposit Information page.

We are closely monitoring new developments and will update this page as new information becomes available. 


Frequently Asked Questions

Yes. Penny deposits are still accepted at MidFirst banking centers.

Penny orders may be limited based on our current inventory. Due to current supply, penny orders may be limited to small-business and commercial customers. Availability cannot be guaranteed as our inventory decreases. Cash totals may be rounded to the nearest nickel as supply decreases.

Yes. Pennies remain legal tender in the United States. There are no immediate plans to remove the penny as legal tender. With the Federal Reserve decision to limit penny distribution, the supply of pennies in circulation will continue to shrink. You may see cash totals rounded to the nearest nickel as supply decreases.

The cost of producing a penny has exceeded the $0.01 value for many years. According to recent announcements by the U.S. Treasury, stopping production of the penny is expected to save the U.S. government more than $56 million annually.

If you have questions about the availability of penny inventory or general questions, please visit your nearest MidFirst banking center or your account officer.