Premier Bancshares files for bankruptcy

Jefferson-City based bank holding company Premier Bancshares has filed for bankruptcy.

According to a report from the St. Louis Post-Dispatch, Premier Bancshares, led by President Bruce Wiley, filed the Chapter 11 bankruptcy petition in St. Louis Wednesday, listing estimated assets ranging between $1 million and $10 million, and liabilities ranging between $50 million and $100 million.

The holding company served Premier Bank, which was closed by regulators in October 2010.

Read more from the St. Louis Post-Dispatch.