The Federal Deposit Insurance Corp. on Friday was appointed receiverof Columbian Bank of Topeka, which had $752 million in assets and $622million in deposits as of June 30.
The FDIC said the bank's deposits will be assumed by Citizens Bankand Trust of Chillicothe, Mo. Its nine offices will reopen Monday asbranches of Citizens Bank. Depositors of Columbian Bank will continueto have full access to their deposits, the agency said.
It was the ninth failure this year of an FDIC-insured bank.
There are four Columbian branches in Topeka.
Is your bank on the "secret list"?
As one bank "assumes" the deposits of each failed bank, eventually there is a point where only a single bank is left. Hmm... reminds me of the tale of how to catch wild pigs.