Regulators Remove Another Top 40

13th ranked First National Bank of Olathe of Olathe, Kansas, was closed today by the Office of the Comptroller of the Currency. The assets of about $538.1 million in total assets and $524.3 million in deposits have been assumed by Enterprise Bank & Trust (1183rd) of Clayton, Missouri. The FDIC and Enterprise Bank & Trust entered into a loss-share transaction on $419.6 million of First National Bank of Olathe's assets. This was Enterprise's third acquisition since the beginning of the crises and the first located outside of Arizona greatly expanding the bank's service area. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $116.6 million.