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| TeamBank demise leaves questions |
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| Opinion - Editorials | |||
| Written by Brian McCauley | |||
| Wednesday, 25 March 2009 07:00 | |||
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News that TeamBank was closed by the Comptroller of the Currency on Friday with the Federal Deposit Insurance Corp. being appointed as receiver was shocking to many Miami County residents. Perhaps even more difficult to swallow was the swift transition, as the FDIC quickly entered into a purchase and assumption agreement with Springfield, Mo.-based Great Southern Bank, which took over all of the depositors of TeamBank overnight. In one swift move, the TeamBank signs were changed, and a new name now sits on the historic building on the northeast corner of Park Square in Paola that has been a staple in the community for many years. Although TeamBank’s troubles were no secret, the swiftness of the change caught many customers off guard, and the bank’s offices were packed Monday morning with customers wanting answers to their questions. Great Southern officials have assured customers that their banking services should not change, but what about the service to the community? TeamBank has made a local name for themselves, not just by being a large employer, but also by integrating themselves in the community. The bank sponsored sports teams and took part in community events such as operating a booth at the Roots Festival and participating in the annual Miami County Fair parade, to name a few. Great Southern spokesperson Kelly Polonus said Monday that Great Southern Bank is very community oriented, and its officials are excited to expand their retail services into Paola. She also said the company intends to keep most of the same TeamBank staff that has developed relationships with customers over the years. Obviously, it is too early in the transition to know for certain how it will all pan out, but we can only hope that Great Southern officials make good on their word and use this purchase as an investment in a community and Miami County, not just an addition to their company. Seeing a familiar face when you walk into the bank or stop by a booth set up at a community event will help ease the transition, but it will take a while for many people to get used to seeing Great Southern Bank instead of TeamBank on signs throughout the area. Let’s hope the change will be a fruitful one for the residents and banking customers.
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