State College police say someone at the Theta Delta Chi fraternity reported the missing money.
According to a search warrant, bank records show about $57,000 in suspicious cash withdrawals from a fraternity bank account between August 2011 and December 2012. Police say in the same search warrant that about $30,000 worth of debit card withdrawals also appeared to be unauthorized.
Nobody has been charged, and the fraternity has not commented on the investigation.
Court records show police got the search warrant in January and that police received the bank records they sought last week.