Great Southern Bank Extends Participation in FDIC Transaction Account
Guarantee Program
SPRINGFIELD, Mo., Nov. 5 /PRNewswire/ -- Great Southern Bank, a subsidiary of
Great Southern Bancorp, Inc. (Nasdaq: GSBC), today announced plans to extend
its participation in the Federal Deposit Insurance Corporation's (FDIC)
voluntary Transaction Account Guarantee Program (TAGP) portion of the
Temporary Liquidity Guarantee Program through June 30, 2010.
By participating in this program, Great Southern is purchasing additional FDIC
insurance coverage for its customers. Great Southern customers with
non-interest bearing transaction accounts, qualified NOW checking accounts
paying 0.50 percent interest or less, and Interest on Lawyers Trust Accounts
(IOLTA) are fully guaranteed by the FDIC regardless of the account balance.
The TAGP coverage is in addition to and separate from the coverage available
under the FDIC's general deposit insurance rules, which covers balances up to
$250,000 per depositor through December 31, 2013.
Great Southern President and CEO Joseph W. Turner commented, "Great Southern
has participated in the TAGP since its inception in late 2008. We are pleased
to extend our participation in this program so that we can provide our
customers the maximum amount of FDIC insurance coverage available."
With total assets of $3.7 billion, Great Southern offers banking, investment,
insurance and travel services. Headquartered in Springfield, Mo., Great
Southern operates 72 retail banking centers and more than 200 ATMs in
Missouri, Iowa, Kansas and Nebraska. The company also serves lending needs
through a loan production office in Rogers, Ark. Great Southern Bancorp, Inc.
is a public company and its common stock (ticker: GSBC) is listed on the
NASDAQ Global Select stock exchange.
www.greatsouthernbank.com
Forward-Looking Statements
When used in future filings by the Company with the Securities and Exchange
Commission (the "SEC"), in the Company's press releases or other public or
shareholder communications, and in oral statements made with the approval of
an authorized executive officer, the words or phrases "will likely result,"
"are expected to," "will continue," "is anticipated," "estimate," "project,"
"intends" or similar expressions are intended to identify "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements are subject to certain risks and uncertainties,
including, among other things, changes in economic conditions in the Company's
market area, changes in policies by regulatory agencies, fluctuations in
interest rates, the risks of lending and investing activities, including
changes in the level and direction of loan delinquencies and write-offs and
changes in estimates of the adequacy of the allowance for loan losses, the
Company's ability to access cost-effective funding, fluctuations in real
estate values and both residential and commercial real estate market
conditions, demand for loans and deposits in the Company's market area and
competition, that could cause actual results to differ materially from
historical earnings and those presently anticipated or projected. The Company
wishes to advise readers that the factors listed above could affect the
Company's financial performance and could cause the Company's actual results
for future periods to differ materially from any opinions or statements
expressed with respect to future periods in any current statements.
The Company does not undertake-and specifically declines any obligation- to
publicly release the result of any revisions which may be made to any
forward-looking statements to reflect events or circumstances after the date
of such statements or to reflect the occurrence of anticipated or
unanticipated events.
SOURCE Great Southern Bank
Kelly Polonus of Great Southern Bank, +1-417-895-5242,
kpolonus@greatsouthernbank.com
