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FDIC Shuts Small Bank In Kansas - 64th U.S. Bank Closed This Year

Friday, August 12, 2011 - 6:46 PM
From Reuters
Regulators closed the 64th bank in the U.S. so far this year on Friday, shutting down First National Bank of Olathe, located in Olathe, Kansas.

An anemic economic recovery continues to pressure the nation's banking system, especially smaller community banks.

First National had about $538 million in assets and $524 million in total deposits. It was the first bank closed in Kansas this year.

The Federal Deposit Insurance Corp (FDIC) said First National's six branches will reopen on Saturday as part of Enterprise Bank & Trust, Clayton, Missouri.

The pace of closures appears to be slowing this year after 157 were shut down in 2010 and 140 failed in 2009. The FDIC expects the year-end tally to be below last year's total.
WhataBummerWhataBummer413 posts since
Oct 15, 2010
Rep Points: 1,702
1. Saturday, August 13, 2011 - 9:01 AM
Thanks for the post. There was also a credit union failure yesterday. I have more details in this blog post.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,611