Perryville-based Reliable Community Bancshares Inc., the parent company of The Bank of Missouri, will add nine branches to its portfolio through the purchase of a central Missouri company.
The operator of three Bank of Missouri branches in Springfield expects to close on the acquisition of Martinsburg Bank and Trust parent Martinsburg Bancorp Inc. in the first quarter. Terms of the deal were not disclosed in a news release.
Through the deal, Bank of Missouri would add nine branches in the Missouri cities of Mexico, Martinsburg, Wellsville, Montgomery City, Centralia, Hallsville, Vandalia and Columbia. Martinsburg Bank’s $200 million in assets and 41 employees will join Bank of Missouri, growing the Perryville company’s assets to $1.7 million.
“The combination of these banking organizations creates a more convenient network for our customers, a stronger presence in central Missouri and a broader array of banking products and services to valued customers,” Bank of Missouri CEO Adrian Breen said in the release.
Pending the acquisition of Martinsburg Bank and Trust and the previously announced Mid America Banking Corp., Bank of Missouri would operate 35 branches.
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