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Community Bank Outlook: Challenges and Opportunities in 2021 and Beyond

Abrigo

How can community financial institutions thrive in 2021? Community banks provide unique and important banking services for their customers, but they also face significant obstacles. Takeaway 1 Community banks play an important role in the economy and their communities, but they face significant obstacles.

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Small Kansas bank failed because its CEO fell for a crypto scam: Report

American Banker

Two months after the mysterious failure of the Heartland Tri-State Bank in Elkhart, Kansas, a news article sheds light on its downfall. CEO Shan Hanes was involved in a cryptocurrency hoax involving a $12 million wire payment, according to the Bloomberg Businessweek report.

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Regulator: Failed Kansas bank 'victim of a scam'

American Banker

Kansas Banking Commissioner David Herndon told American Banker that his agency declared Heartland Tri-State Bank insolvent because of a "very sudden" event that crippled the bank financially.

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Ex-CEO of failed Kansas bank charged with embezzling $47 million

American Banker

Federal prosecutors allege that Shan Hanes, the former CEO of the now defunct Heartland Tri-State Bank, illegally took money from customers to fund cryptocurrency investments. He could face up to 30 years in prison if convicted.

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Why Kansas bank failure did not raise alarms for industry

American Banker

Industry observers cautioned against prediction of more failures to follow, saying second-quarter earnings show community banks generally remain in sound financial health. Regulators noted the demise of Heartland Tri-State Bank involved an isolated problem.

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Community National Bank (KS) Offers Kasasa Brand Statewide

BankDeals

Community National Bank (Kansas) offers its competitive Kasasa Cash, Kasasa Cash Back, and Kasasa Saver accounts on statewide basis.

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Bowman Concerned About Community Banks’ Exit from Mortgage Markets

ABA Community Banking

Speaking to attendees at a mortgage industry event in Kansas City, Missouri, today, Federal Reserve Governor Michelle Bowman expressed optimism about the trajectory of the housing market but raised concerns about the declining number of community banks remaining in the consumer real estate mortgage market.