New York CNN —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.
Heartland Tri-State Bank is the first bank to fall since First Republic, the nation’s second-largest bank failure ever, in early May.
Heartland Tri-State Bank had approximately $139 million in total assets and $130 million in total deposits, the FDIC said.
Organizations:
New, New York CNN, Heartland Tri, State Bank of, Federal Deposit Insurance Corporation, State Bank, Dream, Bank of, Silicon Valley Bank, Signature Bank, FDIC, Dream First Bank . Heartland Tri, Bank
Locations:
New York, State Bank of Elkhart , Kansas, Heartland, Bank of Syracuse , Kansas, Republic, Silicon