When Sunburst Bank launched its bond mutual fund in the fall of 1993, it was following the lead of many other banks that had rushed into the booming fund market.

But the Grenada, Miss.-based community bank now wants out of the mutual fund business. It is seeking approval from shareholders to merge its only fund into an outside company's portfolio.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.