Champion Bank

April 30, 2010 - Champion Bank, Creve Coeur, Missouri, was closed today by the Missouri Division of Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with BankLiberty, Liberty, Missouri, to assume all of the deposits of Champion Bank.

The sole branch of Champion Bank will reopen on Saturday as a branch of BankLiberty. Depositors of Champion Bank will automatically become depositors of BankLiberty. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their former Champion Bank branch until they receive notice from BankLiberty that it has completed systems changes to allow other BankLiberty branches to process their accounts as well.

This evening and over the weekend, depositors of Champion Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of December 31, 2009, Champion Bank had approximately $187.3 million in total assets and $153.8 million in total deposits. BankLiberty did not pay the FDIC a premium to assume all of the deposits of Champion Bank. In addition to assuming all of the deposits, BankLiberty agreed to purchase approximately $152.6 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.

Our mission is to deliver “WOW” service to our core banking clients, to be the provider of choice, the employer of choice and the investment of choice.
 
With several hundred million in assets, Champion Bank is an FDIC insured community bank that specializes in your banking and financial needs. We are privately owned by over 300 successful business leaders throughout the Saint Louis area.
 
Dedication...hard work...and a burning desire to succeed...these are the attributes of a true Champion. But above all else, a true Champion knows the importance of going above and beyond, and practicing those little “extras” along the path to success. Our business was built on these fundamentals – and an innate desire to not only “be” a Champion, but to help “build” a Champion in every customer we serve.