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HS bank fails, bought by Springfield bank

HS bank fails, bought by Springfield bank

October 10th, 2011 in News

The Sun Security Bank of Holts Summit is among 27 locations of the Ellington-based bank to fail, and its assets have been seized by the Missouri Division of Finance.

The bank has ceased to exist. The Federal Deposit Insurance Corporation (FDIC) has been named as the receiver of the bank.

To protect depositors, an agreement to purchase the bank was reached by the FDIC with Great Southern Bank, a $3.4 billion Missouri state-chartered bank headquartered in Springfield, Mo.

Depositors of Sun Security Bank in Holts Summit will automatically become depositors of Great Southern Bank. Customers of the Holts Summit bank will continue to have full access to their accounts by writing checks or using ATM or debit cards, a spokesman for the Missouri Division of Finance said.