The Kansas Banking Department closed the Sylvia...
The Kansas Banking Department closed the Sylvia State Bank in Sylvia, but the bank will reopen today as a branch of the Turon State Bank, state and federal banking officials said. None of the south-central Kansas bank’s depositors will lose money, Bill Olchesky, a spokesman with Federal Deposit Insurance Corp. said in Washington. The federal insurer estimates that the bank has assets of about $5.4 million. Kansas Bank Commissioner W. Newton Male said a recent bank examination found that the Sylvia State Bank was insolvent because of loan losses. There have been 157 bank failures nationwide this year, including six in Kansas.
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