Rural Kansas town hit by massive scam, causing fourth U.S. bank to collapse in 2023

Heartland Tri-State Bank of Elkhart in Kansas has become the fourth U.S. bank to fail in 2023 and the second Kansas bank to fail in three years. The bank was closed by the Kansas banking commissioner after becoming insolvent due to a "huge scam." The Federal Deposit Insurance Corporation (FDIC) has taken control of the bank's affairs and brokered a deal for Dream First Bank to take over its customers. The transfer has not caused any disruptions to customers, who are protected from loss. Heartland Tri-State Bank had $139 million in total assets and $130 million in total deposits.