July 28, 2023
Press Release – Office of the State Bank Commissioner
Contact – Timothy P. Kemp, Deputy Bank Commissioner
Office of the State Bank Commissioner
Dream First Bank Acquires Heartland Tri-State Bank
On July 28, 2023, Heartland Tri-State Bank in Elkhart, Kansas, was acquired by Dream First Bank in Syracuse, Kansas. The bank will reopen as Dream First Bank on July 31, 2023. Depositors of Heartland Tri-State Bank will automatically become depositors of Dream First Bank. Over the weekend, customers of Heartland Tri-State Bank can access their funds by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
Based upon an ongoing review by the Office of the State Bank Commissioner, Bank Commissioner David Herndon determined that Heartland Tri-State Bank was insolvent. Therefore, the Commissioner took charge of the properties and assets of the bank on July 28, 2023, pursuant to K.S.A. 9-1903. On July 28, 2023, the Commissioner appointed the Federal Deposit Insurance Corporation (FDIC) to act as receiver for the bank, pursuant to K.S.A. 9-1905.
Heartland Tri-State Bank became insolvent due to an isolated event. Overall, the Kansas banking industry is unaffected by this event and Kansas banks remain strong.
The main office of Heartland Tri-State Bank was located at 601 Morton Street, Elkhart, Kansas, with branch locations in Attica, Kansas; Arlington, Kansas; and Rolla, Kansas.