Tag Archives: Federal Deposit Insurance Corporation

When a bank fails, the government is going to arrange for it to be absorbed by a bigger bank if possible

Important Takeaways:

  • Bank failure: Kansas Heartland Tri-State Bank closed by FDIC
  • Heartland Tri-State Bank of Elkhart, Kansas, failed on Friday, with the Federal Deposit Insurance Corporation taking control.
  • The FDIC agreed to assume all the deposits of Heartland Tri-State Bank to protect customers, entering a purchase and assumption agreement with Dream First Bank of Syracuse, Kansas.
  • That means the four branches of Heartland Tri-State Bank will reopen as branches of Dream First Bank on Monday.

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