Old Missouri Bank seeks foothold in Mount Vernon

Springfield-based Old Missouri Bank is in the site-selection process for a Mount Vernon brick-and-mortar presence.

Spokeswoman Shanda Trautman said the company seeks to open a loan production office in the market west of Springfield. It would be Old Missouri Bank’s sixth location, with others in Springfield, Ash Grove, Walnut Grove and Buffalo.

“We want the facility up and running as soon as we possibly can,” she said.

The loan office would be the first step toward opening a full-service branch. Pending regulatory approval by the Federal Deposit Insurance Corp., Trautman said Old Missouri Bank’s plan is to have the branch in operation by late this year.

“For a number of years, the Mount Vernon area has provided us with a strong and growing customer base,” said Mark Harrington, president and CEO of Old Missouri Bank, in a news release. “Expanding to Mount Vernon offers our new and existing customers another convenient location.”

As of March 31, Old Missouri Bank had assets of $353.4 million and deposits of $290.4 million. The company posted quarterly net income of roughly $1 million, according to FDIC.gov.

[[In-content Ad]]