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Failed Bank Information
Question and Answer Guide for TeamBank, N. A., Paola, KS
FDIC Call Center
Toll free number 1-800-830-4697
Hours of Operation – Central Time
Friday, March 20, 2009:   Until 9:00 p.m.
Saturday, March 21, 2009:   9:00 a.m. – 6:00 p.m.
Sunday, March 22, 2009:   Noon – 6:00 p.m.
Thereafter:   8:00 a.m. – 8:00 p.m.


The total balance in your account(s) has been transferred to Great Southern Bank, Springfield Missouri, and will be available for transactions during regular business hours at the former TeamBank N.A. branches.

You May Continue to use your same check, ATM cards and debit cards until notified.

All direct deposits, including social security checks will continue as usual.


On Friday March 20, 2009, TeamBank N.A. was closed by the Office of the Comptroller of the Currency. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure, Great Southern Bank, Springfield Missouri, acquired the assets and most of the liabilities of TeamBank N.A. from the FDIC as Receiver for TeamBank N.A. Any claims by equity holders were not acquired. Share price does not trigger a bank closing and was not the reason for TeamBank N.A.'s failure.

Account(s): What about my account with TeamBank, N.A.?

All deposit accounts, which include Checking, Savings, Money Market, CDs and Retirement accounts have been transferred to Great Southern Bank, Springfield, Missouri, regardless of the dollar amount. No one lost any money on deposit in TeamBank, N.A.

If you had an account with TeamBank, N.A., you now have an account with Great Southern Bank.

Please be advised you will not receive any email notification to claim/unlock/unsuspend your account or to provide any private information. Please be aware of any scams to obtain information from you.

ATM/debit card and/or Billpay: What about my ATM/debit card and/or bill paying with TeamBank, N.A.?

Your ATM/debit card will continue to work, and bill paying will work as it has in the past.

Brokered Deposits: I am a deposit broker or have brokered deposits. What do I do?

All deposits comprised of principal and interest through the date of bank failure, EXCLUDING deposits in the name of CEDE & CO, will be funded by the FDIC and transferred to the assuming bank. Funds representing principal and interest through the date of bank failure for the CEDE & CO brokered CDs will be paid directly by the FDIC. DTC Participant holders will not need to submit paperwork to claim funds. For additional recorded guidance relative to broker processing you may call 1-877-872-1685.

Direct Deposits - Government Deposits: What will happen to my direct deposits?

Direct Deposits will continue as normal, including Social Security checks.

Existing Deposits at Great Southern Bank: I already have other deposit accounts with the new bank.  When combined with balances at this bank, my deposits exceed $250,000.  Are all funds insured?

The accounts transferred to Great Southern Bank will be separately insured for at least six months after the merger. This grace period gives a depositor the opportunity to restructure the accounts, if necessary.

CDs from the failed bank are separately insured until the earliest maturity date after the end of the six-month grace period.

CDs that mature during the six-month period and are renewed for the same term and in the same dollar amount (either with or without accrued interest) continue to be separately insured until the first maturity date after the six-month period.

If a CD matures during the six-month grace period and is renewed on any other basis, it would be separately insured only until the end of the six-month grace period.

Interest Rates, Early Withdrawal Penalty: Will I continue to earn interest at the same rate?  Will I be charged an early withdrawal penalty?

Great Southern Bank will be reviewing rates and will notify you.

You may withdraw funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with your new bank.  Entering into a new deposit agreement can be done by either renewing your CD or making a deposit to, or a withdrawal from, your account.

Loans/mortgages: What about my loan or mortgage with TeamBank, N.A.?

All mortgages and loans have been assumed by Great Southern Bank. Your payment amount and due date are the same. If you are having your payment deducted from your account, it will continue as it has in the past. You should continue to make your checks payable to TeamBank, N.A. and send your payments to the same address.

Loans in Process: What happens if I had a loan in process that had not closed or a line of credit not fully funded?

You should contact your loan officer.  All prior contacts remain the same.

Media: I represent a TV/Newspaper/Radio and would like some information.

Please contact the Office of Public Affairs:

David Barr
202-898-6992
dbarr@fdic.gov

Outstanding Checks: What about checks that I have written on my account with TeamBank, N.A.?

Your checks will clear up to the available balance in your account. You can continue to use your existing checks.

Safe Deposit Boxes: How can I claim the contents of my safe deposit box?

It is business as usual. You can go to your local branch and access your safe deposit box; however, no action on your part is required because of this transaction.

Shareholders: What about my shares of stock, notes or subordinated notes that I own in TeamBank, N.A.?

On March 20, 2009, TeamBank, N.A. was closed by the Office of the Comptroller of the Currency. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure, Great Southern Bank acquired the assets and most of the liabilities of TeamBank, N.A. from the FDIC as Receiver for TeamBank, N.A. Any claims by equity holders were not acquired.

There was no publicly owned stock in TeamBank, N.A. If you are an equity shareholder, your shares are in BHC Team Financial, Inc., Paola, Kansas, the holding company for TeamBank, N.A., and not the institution. BHC Team Financial, Inc. and the interests of equity, debt holders or other creditors of BHC Team Financial, Inc. are not included in the closure or receivership of the institution. Please do not file a claim with the Receiver rather, contact BHC Team Financial, Inc. directly for information:

BHC Team Financial, Inc.
Paola, Kansas 66071


All claims against TeamBank, N.A., together with proof of the claims, must be submitted in writing to the Receiver at the following address:

FDIC as Receiver of TeamBank, N.A.
1601 Bryan Street
Dallas, TX 75201
Attention: Claims Agent

Transaction Types: Why do all deposits, insured and uninsured, pass in some transactions but not in others?

The FDIC is required by law to employ the least-cost resolution measure for each failed financial institution.  The most frequent result is for the FDIC to transfer only the insured deposits in a merger transaction.  The FDIC has been able to transfer all deposits in about 25% of the failures over the past 15 years.




Last Updated 08/17/2012 Customer Service