Another Biden era bank failure, a pattern in Bidenomics

Another Bank Has Fallen as Joe takes a victory lap on inflation

The FDIC said in a news release that the state Office of the State Bank Commissioner seized the bank and named the FDIC as the receiver. Dream First Bank, National Association, of Syracuse, Kansas, then assumed all of Heartland’s deposits.

The FDIC said that all deposits, regardless of amount, were transferred from Heartland Bank to Dream First.

The FDIC also said that it worked out a deal with Dream First that will lead to a $54.2 million hit to the Federal Deposit Insurance Fund (DIF). However, the FDIC said that the plan it approved was the lowest-cost option for the fund.

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