2023-07-31 06:03:46
Heartland Tri-State Bank has become the latest bank in the United States to fail. The Kansas bank regulator closed the bank on Friday and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The regulator closed Heartland Tri-State Bank One of the regional banks of the United States, Heartland Tri-State Bank, was closed on Friday by the Kansas state banking regulator. The regulator subsequently named the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC announced: “To protect depositors, the FDIC has entered into a purchase and acceptance agreement with Dream First Bank, National Association of Syracuse, Kansas, to accept all deposits of Heartland Tri-State Bank.” The FDIC explained that Heartland Tri-State Bank had regarding $139 million in assets and $130 million in deposits as of March 31. In addition to assuming all of the failed bank’s deposits, Dream First Bank, National Association “agreed to purchase substantially all of the assets of the failed bank.” detailed the FDIC. High quality 3d rendering of a sandstone ‘BANK’ sign breaking up with cracks The regulator added that four Heartland Tri-State Bank branches will reopen Monday as Dream First Bank, National Association branches with regular business hours. Several major banks in the United States have gone bankrupt this year. On March 10, Silicon Valley Bank was closed by the California financial regulatory authority. On March 12, Signature Bank was closed by New York State’s financial services regulator. And on May 1, First Republic Bank filed for bankruptcy protection in California. Later, Silvergate Bank also filed for voluntary liquidation once morest itself. Several have predicted an increase in regional bank failures as the Federal Reserve sticks to raising interest rates. This week, the Fed raised interest rates by 25 basis points. In April, Robert Kiyosaki, author of Rich Dad Poor Dad, warned that regional banks would fail because of the Fed’s policies. Economist Peter Schiff said earlier this month that as the banking crisis unfolds, all banks will fail and people will suffer huge losses as a result.
1690787818
#American #bank #pulled #curtain #domino #effect #start