Bank failure: Kansas Heartland Tri-State Bank closed by FDIC

CNN ^ | 7/28/23 | Ramishah Maruf

[SaveFerris]

Wow

[SaveFerris]

That who I was trying to quote 🤣😜

[SaveFerris]

🔝🔝🔝

[EEGator]

I got it. :)

ice cream & pudding were the key...

[Wallace T.]

This is likely an agricultural oriented financial institution. It is very unlikely that commercial real estate had any role in its failure. There may be extraordinarily poor lending practices or possible fraud involved. But a failure in a small High Plains bank is hardly a trend. This likely has zero to do with the high profile failures earlier this year.

[Iceclimber58]

Sorry. Texas does not border Kansas. You may have been thinking Texas County, OK.

[Spktyr]

Maybe, maybe not - a number of smaller rural banks ended up being seduced into the CRE mini-implosion during COVID and bought on the dip, thinking it was a sure thing.

Morgan Freeman voice: “It wasn’t.”

[Spktyr]

It does if you consider Oklahoma to be Texas’ hat. :P

Otherwise, no, it doesn’t border Texas. As much as I’d like to be able to just skip driving through a place that’s merely ‘OK’. :P

[Wallace T.]

A bank with about $150 million in total assets would likely have at most $15-20 million in capital before it hit trouble. That would mean that the bank’s lending limit would be approximately $2.25-3 million. It would seem unlikely that the bank would have the financial ability to get involved in large commercial real estate loans, even in nearby cities like Amarillo, Texas, Wichita, Kansas, or Oklahoma City, much less the large metropolitan areas.

[SaveFerris]

🤣🤣🤣😀😜

[Pete from Shawnee Mission]

You are right and I hate to be corrected. (The map made me say it!!)

Here is the tri point at the SW corner of Kansas. (I am pretty much at the other corner. )

Has a charming dust bowl look to it.

[ConservativeMind]

It should be $250,000.

Additionally, if you arrange brokered deposits, all of your money above $250,000 can be covered, amongst other banks.

[Spktyr]

I’ve seen some rural Texas and OK banks get into CRE - though on a smaller scale and closer to home. Think small industrial parks and retail developments in suburbs and exurbs.

[EEGator]

Thank you.
It got raised after 2008?

[ConservativeMind]

Yes.

[foundedonpurpose]

Nah, they will all go (pathetic). The central bank, aka, the umpire in the game of baseball, will issue it’s CBDC and end private banking and all of its local interests, relationships and concerns. Am thinking that nonprofit local banks would put a serious thorn in their plans. It help Germany become an industrial capital. Would probably take 5 million to fund per basic requirements. Not sure about the steps the bankers attached with the FDIC, would probably need to get away from the corporate political strings and be self insured.

So much for thinking local. The F****ing globalist are going all in on reverting our society to a cast system with no individual rights.