Premier Bank Among This Week's Bank Closures

For the second week in a row, eastern U.S. based banks have been sparred from the chopping block. However, three central U.S. based banks have become our most recent casualties of the current banking crisis.

14th Ranked Premier Bank of Jefferson City, MO was shut down by regulators this week. Considerably larger then many of the smaller banks that have been closed in recent weeks, Premier had approximately $1.18 billion in total assets and $1.03 billion in total deposits at the time it was closed. Providence Bank (3043rd) of Columbia, MO has agreed to assume nearly all deposits excluding certain brokered deposits.

Just missing out on the list, 42nd ranked WestBridge Bank and Trust Company of Chesterfield, MO was closed today. WestBridge had approximately $91.5 million in total assets and $72.5 in total deposits. Midland States Bank (2038th) of Effingham, IL has agreed to assume essentially all deposits of the failed bank.

The second bank to close this week was Security Savings Bank (un-ranked OTS regulated bank), F.S.B of Olathe, KS. It had approximately $508.4 million in total assets and $397.0 million in total deposits was closed. Simmons First National Bank (1274th) of Pine Bluff, AR has agreed to assume all deposits.