Welcome former Valley Bank CustomersWe’re here to help answer your questions.
On June 20, 2014, Great Southern Bank, headquartered in Springfield, Mo., acquired all deposits and certain loan relationships of Valley Bank in a transaction conducted by the Federal Deposit Insurance Corporation (FDIC).
Please be assured that your deposits – checking, savings, certificates of deposit, and other depository accounts – are safe and readily accessible. For now, it is business as usual. Please continue to bank as you always have. Please remember that Great Southern Bank will notify you well in advance of any changes affecting your account. If you have any questions about your accounts or about anything else regarding this transition, feel free to stop by your former Valley Bank location.
Great Southern looks forward to the opportunity of serving your banking needs and we are committed to providing the quality of service you've come to expect.
Headquartered in Springfield, Mo., and founded in 1923, Great Southern Bank operates 102 offices across eight states. This includes 98 retail banking centers in Missouri, Arkansas, Iowa, Kansas, Nebraska and Minnesota; three commercial loan offices located in Dallas, Texas, Tulsa, Okla. and Overland Park, Kansas, and one Home Loan Center located in Springfield, Mo. With total assets of $3.8 billion and serving more than 142,000 households, Great Southern Bank offers a comprehensive line of banking products.
Great Southern Bancorp is a public company and its common stock (ticker: GSBC) is listed on the NASDAQ Global Select stock exchange.
What happened to Valley Bank?
On Friday, June 20, 2014, Valley Bank was closed by the Illinois Department of Financial and Professional Regulation with the Federal Deposit Insurance Corporation (FDIC) named as receiver. Great Southern has agreed to assume deposits and certain loan relationships of Valley Bank. According to regulatory policy, no advance notice is given to the public when a bank is closed in this manner. Your accounts and funds will be available immediately. Former Valley Bank locations will reopen as branches of Great Southern Bank during regular business hours.
What does this change mean for me?
For now, it’s business as usual; only the name has changed. We’ll be open normal business hours and ready to serve you. Please continue to bank as you always have, using the services you previously had access to. We will provide written notification well in advance of any changes.
Do I have access to the funds in my account?
Yes. All funds and accounts will be available immediately. Please continue to visit your former Valley Bank location to access your funds as usual.
If I have an account at Valley Bank, can I use a Great Southern banking center to conduct transactions?
At this time you are not able to conduct transactions at Great Southern banking centers. In the coming months we will merge all of Valley Bank’s computer systems with Great Southern’s. At that time you will be able to begin conducting transactions at any of the banking centers in Great Southern’s footprint. We’ll be sure to notify you well in advance of this date.
FDIC Insurance Coverage
Are my accounts still insured by the FDIC?
Yes. Great Southern is FDIC-insured and your accounts will continue to be covered by FDIC insurance as they are now. The FDIC minimum coverage per depositor per financial institution is $250,000.
I happen to have accounts at Great Southern Bank. Will my Valley Bank accounts be protected, too?
Yes. Your Valley Bank accounts will be separately insured for at least six months after the merger to give you time to review and change your accounts, if necessary. If you have Certificates of Deposit (CDs) with Valley Bank, you may qualify for an even longer period of separate FDIC insurance, up to the first maturity date of your CD after the initial six-month period.
How do I verify my FDIC coverage?
The FDIC has useful tools online to help you determine your FDIC insurance coverage. Visit http://www.fdic.gov/index.html for more information or visit your local banking center.
Checking Account Information
Do my Valley Bank checks, deposit slips and ATM/Debit cards still work for transactions?
Yes. Please continue to access your accounts just as you normally do.
What about my outstanding checks? Will they clear?
Valley Bank checks that have not cleared prior to the bank closing will be honored up to your available balance.
Will I receive my statements from my Valley Bank account?
Yes, and it will arrive as normal except that the statement will now be from Great Southern Bank.
Can I keep my account number?
In most cases, your account number will not change after we combine computer systems. We will notify you well in advance if your account number does have to change.
Can I use Great Southern ATMs?
Yes, you can use Great Southern Bank ATMs surcharge free. However, if you do use a Great Southern Bank ATM, you will be charged a fee initially. You will simply need to request that the fee be overturned for you at the banking center. You can also use any AllPoint or Shazam Privileged Status ATM nationwide, with no ATM fees, at any time.
Can I access Online Banking and Bill Pay?
For now, continue to access your Online Banking and Bill Pay products as usual. After we merge computer systems, you will be able to utilize Great Southern’s Online Banking and Bill Pay products.
Will my direct deposit or automatic transfers be affected?
Your direct deposit or automatic transfers will continue as usual. In the unlikely event a change is needed, you will be contacted.
Can I still bank by phone?
Yes, continue to use the current phone numbers. When the Great Southern 24-hour Phone Bank is available for Valley Bank customers, you will be notified.
Business Account Information
What happens to my business account?
Please continue to use your business account as usual. In the near future, you’ll have access to additional business products or services to help with your business needs.
Certificates of Deposit Information
If I decide to close my Valley Bank CD before maturity, will I be charged?
No. You may withdraw funds from any transferred account without an early withdrawal penalty.
Will my CD earn the same interest rate?
In most cases, CD and IRA rates will remain in effect until maturity.
Should this change, we’ll be sure to notify you well in advance
What will happen to my IRA accounts?
Great Southern is now the plan administrator for these accounts. In the near future, we will make contact with you to sign a new agreement.
Safe Deposit Box Information
Are there changes regarding my safe deposit box? Can I access the contents of my box?
As usual, you can access your safe deposit box during regular banking hours. If any changes are made in the future, you will be notified well in advance.
Will my current loan payments change? Where should I send my loan payments?
Please continue to make your loan payments as usual at your former Valley Bank location. We will notify you of any changes.
Great Southern has been serving customers for 91 years and strives to provide the most comprehensive line of products and services possible, competitively priced and conveniently delivered when, where and how customers prefer.
For now, it’s business as usual for former Valley Bank customers. Please continue banking as you always have. Great Southern will provide written notification well in advance of any changes affecting your account. We’ll also let you know of the many great opportunities coming your way as a Great Southern customer. We look forward to serving you!
Information about Great Southern’s financial performance can be found on our Investor Relations site at www.GreatSouthernBank.com , under “About Us”; on the FDIC web site , or on the Securities and Exchange Commission (SEC) web site .