FDIC Closes Kansas Heartland Tri-State Bank Due to Failure

Heartland Tri-State Bank of Elkhart, Kansas, has been closed by the Kansas Office of the State Bank Commissioner, and the FDIC has been appointed as the receiver. Dream First Bank, National Association, of Syracuse, Kansas, has entered into a purchase and assumption agreement with the FDIC to assume all of the deposits and purchase the assets of Heartland Tri-State Bank. The four branches of Heartland Tri-State Bank will reopen as branches of Dream First Bank, National Association. Depositors do not need to change their banking relationship to retain deposit insurance coverage. The cost to the Deposit Insurance Fund is estimated to be $54.2 million.