Truman Bank Closes; Assets Sold To Simmons First

Poor lending decisions and a glut of bad commercial real estate loans finally toppled Truman Bank, forcing regulators to close the bank’s doors and transfer the deposits to an Arkansas bank.

The Missouri Division of Finance closed Clayton-based Truman Bank at 5 p.m. Friday, and the state regulator appointed the Federal Deposit Insurance Corp. as receiver.

Read more on St. Louis Post-Dispatch.

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