Bank Closing All Non-Local Reward Checking Accounts On October, 7 2010

I received a secure Email from this bank notifiying me that my reward checking account would be closed on October 7, 2010, only because I do not reside in IA or MN.  According to the bank, under the terms of this account, they have the right to close accounts for any reason. Frankly, I think that this is a bad decision by management.  Not only did this bank advertise and recruit out-of-state depositors for their reward checking program up til a few months ago,  but they made applicants jump through several administrative hoops to open and maintain this type of account.  I would have expected this kind of business decision from a Chase or CitiBank, but not from a smaller bank. Perhaps they are trying to preserve the 4.01% APY interest on this account, but this was a poor way in which to go about that goal.  I have been banking all over the USA for over 50 years, and this is the very first time that a bank decided they did not want my business and closed my account.  SHAME ON FIRST SECURITY BANK & TRUST in CHARLES CITY, IOWA.