Old Southern Bank Orlando closed, branches will reopen as Centennial Bank

The FDIC has reported that the Old Southern Bank Orlando was closed on Friday March 12th. The 7 bank branches are scheduled to reopen on Monday as Centennial Bank. An agreement has been reached with Centennial Bank out of Conway, Arkansas, to assume all of the deposits of Old Southern Bank.

The FDIC press wants Old Southern Bank customers to know that:

• Their deposits will continue to be insured by the FDIC
• Customers of Old Southern Bank can continue to access their money by writing checks or using ATM or debit cards
• Customers should continue to make loan payments

The Orlando Sentinel reports that this is the first Orlando based bank to close in nearly 20 years.

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