State Closes Sylvan Grove Bank Save Email Print
Posted: 5:49 PM Jul 23, 2010
Last Updated: 5:49 PM Jul 23, 2010
Reporter: 13 News

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(WIBW) - Concerns over capital forced state officials to shut down a Kansas bank.

Acting Bank Commissioner Judi M. Stork announced Friday that Thunder Bank, Sylvan Grove, Kansas, would be shut down. The action followed an ongoing review which found the bank was critically undercapitalized.

In a statement, Stork says her office determined that Thunder Bank was unable to sufficiently recapitalize, resume business, or liquidate its indebtedness to the satisfaction of its depositors and creditors. The Commissioner took charge of the properties and assets of the bank and the bank was closed on Friday, July 23.

Under state law, Stork appointed the Federal Deposit Insurance Corporation to act as receiver for the bank.

Thunder Bank will be acquired by The Bennington State Bank, Salina, Kansas, and will reopen Monday, July 26.

Depositors of Thunder Bank will automatically become depositors of The Bennington State Bank. Over the weekend, customers of Thunder Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

Customers with accounts in excess of $250,000 should contact the FDIC toll free at 1-877-894-4710. Further information may be obtained at .

Thunder Bank had its main office at 102 North Main, Sylvan Grove, Kansas and a branch at Main Street, P.O. Box 126, Hunter, Kansas.


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