KC Biz Journal: Feds close First National Bank of Anthony

Kansas City Biz Journal:

First National Bank of Anthony (Kan.) was closed by the Office of the Comptroller of the Currencyon Friday night, and SNB Bank of Kansas bought virtually all of its assets.

The OCC said in a release that it acted after finding that Bank of Anthony “had experienced substantial dissipation of assets and earnings due to unsafe and unsound practices.”

The OCC said that the bank incurred losses that depleted most of its capital and that there was no reasonable expectation it could become adequately capitalized without federal assistance.

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