A bank failure shattered trust in this Kansas town. Only …

On July 28, the Kansas Office of State Bank Commissioner closed Heartland and appointed the FDIC as receiver, which estimated the cost of the failure to be about $54 million. Depositors were protected from loss by the FDIC. Heartland was acquired by Dream First Bank of Syracuse, Kansas. It was th…

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A Bank Failure Shattered Trust In This Kansas Town. Only …

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kansasreflector.com

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A Bank Failure Shattered Trust In This Kansas Town.

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Apr 7, 2024 · On July 28, the Kansas Office of State Bank Commissioner closed Heartland and appointed the FDIC as receiver, which estimated the cost of the failure to be about $54 million. …

kscbnews.net

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How The FBI Helped A Small Kansas Town Recover Stolen Funds In A ...

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Nov 5, 2024 · In August, former Kansas bank CEO Shan Hanes was sentenced to 24 years after stealing $47 million from customer accounts and wiring the money to cryptocurrency accounts …

csmonitor.com

FAQs about A bank failure shattered trust in this Kansas town. Only … Coupon?

Why did heartland Tri-State Bank of Elkhart fail?

(Sherman Smith/Kansas Reflector) TOPEKA — Heartland Tri-State Bank of Elkhart on July 28 became the fourth U.S. bank to fail in 2023 and the second Kansas bank to fail in three years. David Herndon, Kansas banking commissioner, closed the southwest Kansas bank after it became insolvent because it was “apparently the victim of a huge scam,” he said. ...

Did heartland Tri-State Bank fail in 2023?

Heartland Tri-State Bank of Elkhart, Kansas, became the fourth U.S. bank to fail in 2023 on July 28 and the second Kansas bank to fail in three years. ...

Why did a Kansas bank close after it became insolvent?

David Herndon, Kansas banking commissioner, closed the southwest Kansas bank after it became insolvent because it was “apparently the victim of a huge scam,” he said. Herndon said he doesn’t know what the scam was, but he said other banks in the state were not affected. “Kansas banks are strong and healthy,” he said. ...

Why did Heartland bank fail?

According to a state bank regulator, the institution fell victim to a “ huge scam ” that resulted in its failure. Heartland was the fourth bank to fail in the U.S. in 2023, following Silicon Valley Bank in California; Signature in New York; and First Republic, also in California. ...

What happened to Heartland Tri-State Bank?

Heartland Tri-State Bank is the first bank to fall since First Republic, the nation’s second-largest bank failure ever, in early May. The FDIC said bank customers can access their money by writing checks or using ATM or debit cards. They also won’t have to change their banking, as they will automatically become customers of Dream First Bank. ...

Is Heartland Tri-State the smallest bank to fail?

Heartland Tri-State is the smallest to fail in the past year, with the next closest in size being Signature Bank in New York. Signature Bank failed March 12 with assets totaling $110 billion and deposits totaling $88.6 billion, according to the FDIC. ...