Bank Closures In St Louis

The Federal Deposit Insurance Corp. (FDIC) was appointed as receiver.

Providence Bank agreed to assume all of the deposits of Premier Bank, except certain brokered deposits.

Premier, with more than $1 billion in assets, has had startlingly bad financials for many quarters, and its failure was long expected by local bankers.

rest of article at St. Louis Business Journal

 

WestBridge Bank and Trust Co. of Chesterfield, Mo., one of the most troubled banks in St. Louis, was closed by state regulators Friday and sold to Midland States Bank in Effingham, Ill.

The Missouri Division of Finance closed the bank and appointed the Federal Deposit Insurance Corp. as receiver.

The sole branch of WestBridge Bank will reopen Monday as a branch of Midland States Bank, regulators said.

rest of article at St. Louis Business Journal