Regional Missouri Bank, Marceline, Missouri, Assumes All of the Deposits of Glasgow Savings Bank, Glasgow, Missouri (FDIC Press Release)

Glasgow Savings Bank, Glasgow, Missouri, was closed today by the Missouri Division of Finance, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Regional Missouri Bank, Marceline, Missouri, to assume all of the deposits of Glasgow Savings Bank.

The sole branch of Glasgow Savings Bank will reopen on Saturday as a branch of Regional Missouri Bank. Depositors of Glasgow Savings Bank will automatically become depositors of Regional Missouri Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Glasgow Savings Bank should continue to use their existing branch until they receive notice from Regional Missouri Bank that it has completed systems changes to allow other Regional Missouri Bank branches to process their accounts as well.

View press release in full here (links externally to FDIC website).