Industry Finance Founded 1907 | Defunct 2009 Ceased operations 2009 | |
Products retail banking, mortgage banking, and business finance Website www.americansterlingbank.com Headquarters Sugar Creek, Missouri, United States | ||
American Sterling Bank was a financial company engaged primarily in retail banking, mortgage banking, business finance and providing automated teller machine and merchant processing services.
History
The bank was established in 1907, and had full service banking offices serving Kansas City, Sugar Creek, Blue Springs, Carefree, and Foothill Ranch.
On April 17, 2009, regulators shut down American Sterling Bank, marking the 25th bank failure of the year as the credit crunch continued to spread through the economy. American Sterling Bank had $181 million in total assets and $171.9 million in total deposits as of March 20, according to the Federal Deposit Insurance Corporation (FDIC). The FDIC said Metcalf Bank of Lee's Summit, Missouri would assume the failed bank's deposits. The FDIC estimated the failure of American Sterling Bank would cost its deposit insurance fund $42 million.