Bank of Missouri parent finalizes acquisition

The Bank of Missouri's parent company has completed an acquisition that strengthens its footprint in the St. Louis area.

Perryville-based Reliable Community Bancshares Inc. closed Jan. 2 on the purchase of Clayton-based M1 Bancshares Inc., the parent company of M1 Bank. The financial terms of the cash-and-stock deal were not disclosed in a news release.

The acquisition was announced in August. 

"M1 Bank has built a strong reputation for purpose-driven community banking, particularly in the areas of business lending, community development, and relationship-based service," said Adrian Breen, president of Reliable Community Bancshares and chair, president and CEO of The Bank of Missouri, in the release. "Together, we will continue to invest in the people, neighborhoods and businesses of the St. Louis region."

With M1 Bank's more than $1 billion in assets and The Bank of Missouri at over $3 billion, the combined organization now has $4.2 billion in assets. Officials previously said the combined organization would have 30 branches, with two from M1.

The Bank of Missouri, which has three branches in Springfield, reported local 2024 revenue and employees of $42.7 million and 118, respectively, for Springfield Business Journal's Economic Impact Awards event in summer 2025. Companywide, revenue in 2024 was $190.6 million, with 570 employees, according to past reporting.