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Old Missouri Bank expanding into Carthage area

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Old Missouri Bank is expanding into the Carthage area, first with a loan production office and later with a planned full-service branch.

The 530 W. Fir Road loan production office is scheduled to open next month in Carthage, according to a news release.

Pending regulatory approval, Old Missouri Bank intends to open a branch in the market early next year. The branch would bring its count up to seven, with other offices in Springfield, Ash Grove, Walnut Grove, Mount Vernon and Buffalo.

The company hired Lonnie Heckmaster to lead its operations in the Carthage and Joplin markets. Heckmaster had served as president, CEO and board chairman for Carthage-based Hometown Bancshares Inc., which was recently purchased by Guaranty Federal Bancshares Inc. (Nasdaq: GFED).

“We are always looking for growth opportunities and believe the Carthage and Joplin area provides us with a strong and growing customer base,” said Mark Harrington, president and CEO of Old Missouri Bank, in the release. “This expansion and community investment is part of our ongoing commitment to build a vibrant region for the people and businesses that call southwest Missouri home.”

Old Missouri Bank ranked 10th on Springfield Business Journal’s list last year of the area’s largest banks and savings banks. The company reported net income of $2 million, deposits of $292.5 million, assets of $361.3 million and loans of $314 million.

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