Banking executive Russ Marquart dies at 59

SBJ File

Russ Marquart worked at Central Bank for around three decades.

Russ Marquart, a longtime Springfield banking executive who retired from the industry in recent years, has died. He was 59.

Marquart died June 1 in Naples, Florida, according to a news release from Central Bank of the Ozarks, where he worked for more than three decades. His cause of death was not disclosed in the release and service details were unavailable.

Upon Marquart's retirement in 2021, Joselyn Baldner succeeded him as president and CEO, though bank officials say Marquart continued consulting for the bank until mid-2023.

"His leadership from 2007 to 2021 guided the bank through transformative growth – including two strategic acquisitions," Central Bank of the Ozarks officials said in the release. "Known for his dedication, servant leadership and boundless energy, Russ inspired countless colleagues and clients alike. He was both a strategist and a relationship builder – famed for his sense of humor, sharp thinking and unwavering support of the community."

Marquart began his career in banking as an intern and credit analyst at Central Bank while still enrolled in college, according to bank officials. He became a commercial lender before being named president and CEO in 2007 at the age of 40.

Central Bank ranked No. 3 on Springfield Business Journal's October 2024 list of the area's largest banks and savings banks. The list was ranked on Federal Deposit Insurance Corp. data of deposits held in the Springfield metropolitan statistical area, with Central Bank having nearly $1.5 billion, or 9.12% of the market share.