Bank of Bolivar to enter Springfield

Owen became a senior vice president with Bolivar-based Bank of Bolivar on June 6 after serving more than five years as executive vice president with UMB Bank, where he focused on business development in Springfield. Before that, Owen worked for 20 years for Strafford-based The Greene County Bank, which has four branches, including one in Springfield.

Owen said he’s been impressed with the operation of Bank of Bolivar since it was chartered in 1997. Bank of Bolivar, which now has $150 million in assets and about 55 employees, added a branch in Fair Grove in 1999 and a second Bolivar location in 2005.

Owen leaves Kansas City-based UMB, which has more than $8 billion in assets, 3,500 employees and 141 branches in seven states, including four in Springfield. However, he said joining a smaller bank in and of itself isn’t what hooked him.

“I don’t think it’s so much the size. It’s more having a little more control in how we deliver services, and I’m going to be in a position to have that now,” said Owen, who also said he’s looking forward to filling a “more encompassing” role.

Owen is working from the Fair Grove branch, but he hopes to have temporary space leased in Springfield within 90 days. Bank of Bolivar is awaiting Missouri division of finance approval before it moves forward with the Springfield branch.

Bank of Bolivar President Brad Gregory said he’s known Owen for about 30 years, beginning when they both were students at Drury University. He said Owen’s connections and experience will help Bank of Bolivar build off its small customer base already in Springfield.

“That’s really what you’ve got to do in these things,” Gregory said. “You’ve got to get the people and build the bank around them.”

Gregory said the bank is eyeing northeast Springfield for its permanent home, citing highway access and market needs in that part of town. Only one full-service Springfield branch is planned.

UMB began searching for Owen’s replacement a couple weeks ago, though Ann Marie Baker, president of UMB Bank in Springfield, didn’t have a timetable for having someone hired.

“It was a pleasure working with Bill,” Baker said. “We wish him well in his decision to go back to community banking.”