Accession Number PB2013-110979
Title Safety and Soundness: Failed Bank Review of First National Bank of Olathe, Olathe, Kansas.
Publication Date Dec 2011
Media Count 6p
Personal Author N/A
Abstract This memorandum presents the results of our review of the failure of First National Bank of Olathe (FNB Olathe). FNB Olathe opened in June 1887. At the time of failure, it operated one main office and five branches in Olathe, Kansas, and a loan production office in Scottsdale, Arizona. The bank was a subsidiary of First Olathe Bancshares, Inc., located in Mission Hills, Kansas. The Office of the Comptroller of the Currency (OCC) closed FNB Olathe and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver on August 12, 2011. As of June 30, 2011, the bank had approximately $538.1 million in assets and $524.3 million in deposits. As of October 31, 2011, FDIC estimated the loss to the Deposit Insurance Fund to be $118.6 million.
Keywords Assets
Banking
Deposits
Failures
Federal Deposit Insurance Corporation(FDIC)
Federal governmant
Financial management
First National Bank of Olathe(FNB Olathe)
Loans
Losses
Olathe(Kansas)


 
Source Agency Department of Treasury - General
NTIS Subject Category 96F - Banking & Finance
70B - Management Practice
Corporate Author Office of the Secretary of the Treasury, Washington, DC. Office of the Inspector General.
Document Type Technical report
Title Note N/A
NTIS Issue Number 1324
Contract Number N/A

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