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.
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. Heartland Tri-State Bank had approximately $139 million in total assets and $130 million in total deposits, the FDIC said. Dream First Bank also agreed to buy “essentially all” of Heartland Tri-State’s failed assets.
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