Region 8 bank closed by regulators

BATESVILLE, AR (KAIT) – A Region 8 bank was among several seized nationwide Friday by federal regulators.

According to the Associated Press and Arkansas Business, First Southern Bank of Batesville was closed.

Its assets, totaling nearly $192 million were acquired by Southern Bank of Poplar Bluff, Missouri.

Earlier this month First Southern President Woody Castleberry announced as much as $22 million worth of bonds the bank purchased may have been worthless.

The bank's two branches are expected to reopen Saturday, December 18th.

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