The Kansas Bank Commissioner closed Topeka's Columbian Bank and Trust Company Friday. It handed control the Federal Deposit Insurance Corporation.
The FDIC says it's entered into a purchase and assumption agreement with Citizens Bank and Trust of Chilicothe, MO. It will assume Columbian's insured deposits. Columbian's nine branches will reopen Monday as branches of Citizens.
Columbian customers will be able to access their money over the weekend by writing checks or using ATM or debit cards. The FDIC says checks drawn on the bank will be processed and loan customers should make payments as usual.
According to a release from the FDIC, as of June 30, Columbian had total assets of $752 million and total deposits of $622 million. The FDIC says Columbian has approximately $46 million in uninsured deposits held in approximately 610 accounts.
Customers with accounts in excess of $100,000 should contact the FDIC at 1-800-523-8209 to set up appointments to discuss their deposits.
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