Federal Regulations Shuts Down a Missouri Bank

For the fourth time this year, federal regulations shut down a Missouri bank. It happened on December 14, 2012 when regulations seized Community Bank of the Ozarks in Sunrise Beach. The FDIC reached an agreement with the Bank of Sullivan to assume the deposits and most other assets. The bank failure is expected to cost the federal bank insurance fund over $10million. So far, 51 banks have failed nationwide.