Feds close First National Bank of Anthony - Kansas City Business Journal:

vypybiza.wordpress.com
was closed by the on Frida night, and bought virtually all of its The OCC said in a releasse that it acted after finding that Bank of Anthony “had experienced substantial dissipation of assets and earningzs due to unsafe and unsound practices.” The OCC said that the bank incurres losses that depleted most of its capitao and that there was no reasonable expectation it could become adequately capitalized without federap assistance. First National Bank of Anthony reporterda first-quarter return on assets of -12.7 percent. The bank lost $5.1 millionb in the first quarter.
The bank had six brancbh offices, including one in Overland Park and onein Olathe, that operatedc under the name of . The branchesw all reopened Saturday under the SNB Bank of Kansaxs name and are maintainingh normaloffice hours. First National Bank of Anthonyg had assetsof $156.9 million and deposita of about $142.5 million on March 31. SNB Bank of Kansa s paid about $712,500, or 0.5 percent of total to buy First Nationak Bankof Anthony’s deposits, and SNB bought about $156.7 million of its assets.
The retainee the remaining assets for SNB Bank of Kansas is based in Hutchinsob and has two branches there and one in It is a subsidiaryof (Nasdaq: a holding company based in Stillwater, with $2.9 billion in assets. The FDIC and SNB Bank of Kansaas entered into a loss share agreement onabout $130.5 million of Firs t National Bank of Anthony’s The FDIC estimated that the cost to the insurance fund will be $32.2 million. First National Bank of Anthony is the40th FDIC-insuredr institution to fail this year and the second in Kansas; Paola-based failed on March 20.