Another US Bank Collapses: Heartland Tri-State Bank Closed by Regulator

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, u201cagreed to purchase essentially all of the failed banku2019s assets,u201d the FDIC detailed.

The regulator added that the four branches of Heartland Tri-State Bank will reopen as branches of Dream First Bank, National Association, on Monday, under normal business hours.


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