Heartland Tri-State Bank has become the latest bank in the U.S. to fail. The Kansas banking regulator closed the bank and appointed the Federal Deposit Insurance Corporation (FDIC) as the receiver on Friday.
Regulator Shuts Down Heartland Tri-State Bank
A regional bank in the U.S., Heartland Tri-State Bank, was closed by the Kansas Office of the State Bank Commissioner on Friday. The regulator subsequently named the Federal Deposit Insurance Corporation (FDIC) as the receiver. The FDIC announced:
To protect depositors, the FDIC entered into a purchase and assumption agreement with Dream First Bank, National Association, of Syracuse, Kansas, to assume all of the deposits of Heartland Tri-State Bank.
The FDIC explained that Heartland Tri-State Bank had approximately $139 million in total assets and $130 million in total deposits as of March 31. In addition to assuming all of the failed bank deposits, Dream First Bank, National Association, “agreed to purchase essentially all of the fai
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