The Top 10 Kansas City banks with problem assetsthat exceeded value of equity - KansasCity.com

Ten Kansas City area banks ended 2009 with problem loans and real estate foreclosures that exceeded the value of their owner’s equity.

Problem assets don’t mean banks will lose that much money. The amounts have been reduced to show what value remains. Banks also have set aside reserves to cover potential losses.

But the rising levels of problems highlight the industry’s deeper struggle with tough real estate markets. Seven banks on the list weren’t there a year ago, and three of those stand out as among the larger Kansas City banks based locally.

2 banks areeach based out of Overland Park, Olathe and Leawood, Kansas.

The Top 10 Kansas City banks that have problem assets are:

1) Bank Midwest based in Kansas City

2) Hillcrest Bank in Overland Park, Kansas

3) First National Bank of Olathe, Kansas

4) BC National Bank in Butler, Missouri

5) Security Savings Bank in Olathe, KS.

6) Armed Forces Bank in Leavenworth, Kansas

7) 1st Financial Bank in Overland Park, KS.

8) Alliant Bank in Sedgwick, Kansas

9) Yown & Country Bank in Leawood, KS.

10) Heartland Bank in Leawood, Kansas

For more information, go to: At end of 2009, 10 banks had problem assets that exceeded value of equity - KansasCity.com

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Blog post written by the Dowell Taggart Team of RE/MAX Best Associates

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