BATESVILLE — Officials say it’s business as usual at First Southern Bank in Batesville, even after the state bank department shut down the institution last week.
The FDIC entered into a purchase-and-assumption agreement with Southern Bank of Poplar Bluff, Mo., and the Batesville bank reopened its doors under the new name Saturday.
Bank president Woody Castleberry tells the Batesville Daily Guard that he and the employees of the former First Southern Bank are staying on board with the new owners and he couldn’t be happier. He says that morale among employees is “amazingly good,” considering everything that has transpired during the past couple of weeks.
Castleberry announced earlier this month that as much as $22 million worth of bonds purchased by the bank may have been worthless.