Closed Friday, December 11, 2009 · Overland Park, Johnson County, Kansas
SolutionsBank
SolutionsBank's founding in 1881 put it past its 100th year when it closed. In the three years to the second quarter of 2009, its assets grew 118%. It was one of three banks in Kansas to fail in 2009.
On the books, 2001 to 2009
Total assets peaked at $558 million and were 8% lower at the final report. Equity capital went from 9.5% of assets in the fourth quarter of 2001 to 3.1% at the last report. By then 14% of its loans were 90 days or more past due or no longer accruing interest. The deepest annual loss, $26.6 million, was booked in 2009 in only part of the year.* 2009: January to September only, the last report before closing.
Size against the other 2009 failures
Total assets of each 2009 failure, log scale; SolutionsBank in red.
By assets it ranked 44th of the 140 failures in 2009. Within Kansas it ranks ninth by size of the 114 failures recorded since 1934. Across the failures of 2009, the median estimated loss came to 27% of assets. In the size ranking of that year, just above it was Irwin Union Bank, F.S.B. of Louisville, Kentucky ($518 million, loss 22% of assets); just below, Warren Bank of Warren, Michigan ($505 million, loss 43% of assets). Every 2009 failure in the explorer.
Two other banks closed that day; the largest was Republic Federal Bank, N.A. of Miami, Florida, at $433 million.
Failures in Kansas
The previous failure there was First National Bank of Anthony of Anthony, on June 19, 2009. The next was Thunder Bank of Sylvan Grove, on July 23, 2010. Johnson County has 13 failed banks on FDIC record since 1934. Closest in time: Security Savings Bank, F.S.B. (2010), Hillcrest Bank (2010), The First National Bank of Olathe (2011), Heartland Bank (2012), Small Business Bank (2026).