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Bank of Missouri opens fifth area branch

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Perryville-based Bank of Missouri yesterday opened its fifth Springfield-area branch, its second opened in the city this year.

Mick Nitsch, community bank president, said the newest branch at 2360 E. Sunshine St. allows Bank of Missouri to continue its growth in the market that started in September 2006 at shared space with Incredible Pizza's corporate office. The company later leased at French Quarter Plaza.

"It provides more convenience to our customers and allows us to attract and cater to some new businesses on the east side of Springfield," he said of the East Sunshine Street branch.

Nitsch noted it's premature to name businesses that could sign on with the bank with the introduction of its fifth location, but he said some verbal agreements have been made.

The 4,560-square-foot East Sunshine branch formerly housed a Village Bank. Bank of Missouri purchased former Village Bank locations in March from Liberty Bank for an undisclosed price.

Bank of Missouri opened its fourth Springfield-area branch June 30 at 2760 S. Kansas Expressway. It also operates a branch at 3807 S. Campbell Ave. and two more in Republic and Ozark, according to its Web site.

Nitsch said there are no immediate plans to open additional branches in the Springfield market.

In an updated deposit market share report released Oct 4. by the Federal Deposit Insurance Corp., Bank of Missouri ranked No. 24 with $74.9 million in deposits, representing 1 percent of bank deposits in the five-county Springfield metropolitan statistical area as of June 30.

An open house for the East Sunshine Street branch is scheduled 11 a.m.-4 p.m. Oct. 20, according to Nitsch.[[In-content Ad]]

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