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Bank Failures

Bid Summary for Heartland Tri-State Bank, Elkhart, KS

Heartland Tri-State Bank, Elkhart, KS
Closing Date: July 28, 2023

Failed Bank Information for Heartland Tri-State Bank, Elkhart, KS

BidderWinning and
Cover Bid
Type of
Transaction
Deposit
Premium
Asset Premium/
(Discount) ($000)
Commercial
Shared-Loss
Tranche 1
Conforming
Bid
Dream First Bank, National Association
Syracuse, KS
Winning BidAll Deposits Whole Bank with Shared-Loss2.50%($5,000)95%Yes
OtherN/AAll Deposits Whole Bank0.00%($17,600)N/AYes
OtherN/AAll Deposits Whole Bank with Shared-Loss2.50%($15,000)75%Yes
OtherN/AAll Deposits Whole Bank with Shared-Loss2.00%($14,000)95%Yes
OtherN/AAll Deposits Whole Bank with Shared-Loss0.00%($15,375)70%Yes
OtherN/AAll Deposits Whole Bank with Shared-Loss0.00%($15,350)95%No (1)
OtherN/AAll Deposits Whole Bank with Shared-Loss0.00%($14,400)95%Yes
OtherN/AAll Deposits Whole Bank1.00%($29,638)N/AYes
OtherN/AAll Deposits Whole Bank0.00%($35,000)N/AYes
OtherN/AAll Deposits Whole Bank with Shared-Loss0.00%($50,000)90%Yes

1. The first $1 million in losses are covered by the bidder.

Other Bidder Names & Locations:

Centennial Bank, Conway, AR
Dream First Bank, National Association, Syracuse, KS
Equity Bank Andover, KS
Security State Bank, Scott City, KS
SpiritBank, Tulsa, OK
State Bank of Texas, Dallas, TX
Stockmens Bank, Colorado Springs, CO

Notes:

  • Bidders can submit multiple bids.
  • The winning bidder’s acquisition of the deposits was the least costly resolution compared to a liquidation alternative. The liquidation alternative was valued using valuation models to estimate the market value of the assets.
  • There is no linkage between bidder names and bids, except in the case of the winning and cover bids. There is no cover bid.
  • There may be more bids than bidders because one or more bidders submitted more than one bid.
  • For more information on the bid disclosure policy, see Failed Financial Institution Bid Disclosure Policy.

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Last Updated: August 8, 2023