Three banks make switch to Great Southern

At 5 p.m. Friday, ownership of the branches, located in Camdenton, Climax Springs and Greenview, was transferred to Great Southern.

Great Southern received approval from the Federal Deposit Insurance Corporation in July to acquire the branches after coming to an agreement with Peoples Bank in May.

Great Southern Bank Vice President Doug Marrs said all physical changes to the facilities were made before the banks reopened Saturday morning. The change will have little impact on customers, Marrs said, other than providing them more banking opportunities across the state.

“They should see a lot more opportunities to find their bank available for them if they happen to be out of town and they come to Springfield or the lake area,” he said, referring to the bank’s locations in Osage Beach and Lebanon.

Great Southern purchased the branches for about $1.9 million, bringing the company’s total southwest and central Missouri branches to 34.

The new locations will offer the same banking, investment, insurance and travel services as all other Great Southern locations.

Shares of Great Southern Bancorp (Nasdaq: GSBC) closed Aug. 5 at $29.95. The company has assets totaling $2 billion, nearly seven times the size of Nixa-based Peoples Bank assets of $280 million before the acquisition.