Posted: Jul 13, 2012 6:27 PM by Ashleigh Johnson
Updated: Jul 13, 2012 11:08 PM
GLASGOW - The failed Glasgow Savings Bank will reopen as a branch of Regional Missouri Bank beginning Saturday during regular business hours.
The Federal Deposit Insurance Corporation (FDIC) became the receiver for the bank after the Missouri Division of Finance closed it Friday. Deposit accounts will be transferred to Regional Missouri Bank effective immediately. The transferred deposits will be separately insured from any other accounts at Regional Missouri Bank for six months.
The FDIC said checks drawn from Glasgow that did not clear before the bank closed will be honored as long as there are sufficient funds in the account. All other banking services will remain the same. Members may withdraw funds from any transferred accounts immediately. If any merchant will not accept checks, customers should contact the branch office and an account representative will take care of the problem. Loan customers of Glasgow Savings Bank should continue making payments.