Equity Bank of Andover, Kansas Assumes All of the Deposits of Almena State Bank of Almena, Kansas — 2020-10-23

WASHINGTON – Almena State Bank of Almena, Kansas, was closed today by the Kansas Office of the State Bank Commissioner, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The failed bank experienced longstanding capital and asset quality issues, operating with financial difficulties unrelated to the current economic conditions resulting from the pandemic. To protect depositors, the FDIC entered into a purchase and assumption agreement with Equity Bank of Andover, Kansas to assume all of the deposits of Almena State Bank. The two branches of Almena State Bank will reopen as branches of Equity Bank on Monday, October 26. The FDIC strongly encourages bank customers to follow Centers for Disease Control and Prevention guidance on social distancing and utilize online and electronic banking capabilities.