Missouri saw its first bank casualty of 2012 Friday as FDIC announced that Glasgow Savings Bank of Glasgow, Missouri, was closed down by the state's finance division.
FDIC, appointed as receiver by the Missouri Division of Finance, entered into a purchase and assumption agreement with ""Regional Missouri Bank of Marceline"":http://www.regionalmissouri.com/, Missouri, to assume all of the deposits of Glasgow Savings ($24.2 million as of March 31). Regional Missouri Bank also agreed to purchase essentially all of the failed bank's approximately $24.8 million in total assets.
FDIC estimates that the cost to the Deposit Insurance Fund will be $0.1 million. Glasgow Savings is the 33rd FDIC-insured bank to fail in the United States this year and the first in Missouri.