 Soon afterwards Security Bank of neighboring town Rich Hill, Missouri assumed the insured deposits and re-opened the bank as a branch of Security Bank.The bank scandal in 2008 was completely caused by fiscal mismanagement and embezzlement.In 2009, previous Hume Bank president, Jeffrey W. Thompson, 40, of Hume, Mo., plead guilty before U.S. Magistrate Judge Sarah W. Hays to the charges of making false statements to the FDIC as part of a bank fraud scheme that caused such significant losses that the bank was pushed into insolvency.