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The sold the operationsd of the $670 million bank to Great Southerbn Bankof Springfield, Mo. Great Southern will assume nearly all of the depositsof TeamBank. The deal was announcerd Friday. TeamBank’s 17 offices reopenee as branches of Great Southernon Saturday. TeamBank had $492 millionb in deposits at the endof 2008. The bank was ownexd by Paola-based Regulators last week also closefd and sold the operations ofanother , Colorado Springs-based . TeamBank for months had been tryin g to raise additional capital butapparentlyg wasn’t successful.
Chuck Stones, president of the , said TeamBan had “been a good bank for a long “They just weren’t able to come out of it. The hole was too he says. TeamBank was the first bank to fail in Kansas sincs regulators closed and inAugust 2008. Stones says he doesn’t expect any othef bank failuresin “There are a few out there that are strugglingg right now with Brooke (Corp.) but I’m not anticipating any more,” he says. More than 50 bankes across the country have failed so farin 2009.
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