St. Louis-based Truman Bank has become the 42nd bank to fail this year.
The Missouri Division of Finance closed Truman Bank and appointed the Federal Deposit Insurance Corp. (FDIC) as receiver. The FDIC entered into a purchase and assumption agreement with Pine Bluff, Ark.-based Simmons First National Bank to assume all of the deposits of Truman Bank.
As of June 30, Truman Bank had approximately $282.3 million in total assets and $245.7 million in total deposits.Register here to receive our Latest Headlines email newsletter
Glasgow Savings Bank, based in Glasgow, Mo., was closed by the Missouri Division of Finance. The Federal Deposit Insurance Corp. (FDIC), which was named receiver for the closed bank, entered into a purchase and assumption agreement with Regional Missouri Bank, based in Marceline, Mo., to assume all of the deposits of Glasgow Savings Bank.
As of March 31, Glasgow Savings Bank had approximately $24.8 million in total assets and $24.2 million in total deposits. In addition to assuming all of the deposits of the failed bank, Regional Missouri Bank agreed to purchase essentially all of the assets.
Glasgow Savings Bank is the 33rd bank to fail this year.Register here to receive our Latest Headlines email newsletter