Regulators shut small Kan. bank; 64th in 2011

August 12, 2011 - 6:00 PM

WASHINGTON (AP) — Regulators have shut down a small bank in Kansas, lifting to 64 the number of U.S. bank failures this year.

The Federal Deposit Insurance Corp. on Friday seized First National Bank of Olathe, based in Olathe, Kan., with $538.1 million in assets and $524.3 million in deposits. Enterprise Bank & Trust, based in Clayton, Mo., agreed to assume the assets and deposits of the failed bank.

The failure of First National Bank of Olathe is expected to cost the deposit insurance fund $116.6 million.