Great Southern continues account guarantee participation

Springfield-based Great Southern Bancorp, the parent company of Great Southern Bank, is extending its participation in the Federal Deposit Insurance Corp.'s Transaction Account Guarantee Program.

The bank announced Friday that it is continuing its participation in the voluntary program - which includes purchasing additional FDIC insurance for its customers - through June 30. Great Southern customers with noninterest-bearing transaction accounts; qualified NOW checking accounts paying 0.50 percent interest or less; and Interest on Lawyers Trust Accounts are now fully guaranteed by the FDIC regardless of account balance.

The coverage is separate from the coverage through the FDIC's general deposit insurance rules, which cover balances up to $250,000 per depositor through Dec. 31, 2013.

"Great Southern has participated in the (TAG program) since its inception in late 2008," bank President and CEO Joseph Turner said in a news release. "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."

TAG is part of the Temporary Liquidity Guarantee Program, created by the FDIC in October 2008 as part of the organization's efforts to reduce financial market instability and allow financial institutions to fund themselves and make loans to creditworthy borrowers.

Shares of Great Southern stock (Nasdaq: GSBC) closed Friday at $23.47, compared to a 52-week range of $7.03 to $24.60. Shares were trading at $23.38 as of 9:45 a.m.