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Old 05-14-2010, 08:50 PM
 
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[SIZE=3]Simmons First National Bank, Pine Bluff, Arkansas, Assumes All of the Deposits of Southwest Community Bank, Springfield, Missouri

[/SIZE]FOR IMMEDIATE RELEASE
May 14, 2010
[RIGHT]Media Contact:
David Barr (202) 898-6992
Cell: (703) 622-4790
Email: dbarr@fdic.gov
[/RIGHT]


Southwest Community Bank, Springfield, Missouri, was closed today by the Missouri Division of Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Simmons First National Bank, Pine Bluff, Arkansas, to assume all of the deposits of Southwest Community Bank.
The sole branch of Southwest Community Bank will reopen on Saturday as a branch of Simmons First National Bank. Depositors of Southwest Community Bank will automatically become depositors of Simmons First National Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branch until they receive notice from Simmons First National Bank that it has completed systems changes to allow other Simmons First National Bank branches to process their accounts as well.
This evening and over the weekend, depositors of Southwest Community Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
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