Parsons Bank Seized and Closed
PARSONS, Tenn. – Residents in Decatur County are shaken after the seizing and closure of a bank in Parsons. Community South Bank was closed by the Tennessee Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as the receiver, on Friday. To protect its depositors, the FDIC entered into a purchase and assumption agreement with CB&S Bank, Inc. The bank has assumed all of the deposits. Customers of Community South Bank can still access their money, and continue to use their same checks and debit cards. The bank spokeswoman assure WBBJ 7 Eyewitness news that it is business as usual, there is nothing to worry about when it comes to the safety of the people’s money, and they will notify all the customers of any and all changes as they happen.
