The Kansas Banking Department closed the Sylvia...
- Share via
The Kansas Banking Department closed the Sylvia State Bank in Sylvia, but the bank will reopen today as a branch of the Turon State Bank, state and federal banking officials said. None of the south-central Kansas bank’s depositors will lose money, Bill Olchesky, a spokesman with Federal Deposit Insurance Corp. said in Washington. The federal insurer estimates that the bank has assets of about $5.4 million. Kansas Bank Commissioner W. Newton Male said a recent bank examination found that the Sylvia State Bank was insolvent because of loan losses. There have been 157 bank failures nationwide this year, including six in Kansas.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
