Banking Services in the News

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Guaranty Federal dividends|ret||ret||tab|

Springfield-based Guaranty Federal Bancshares Inc., the holding company for Guaranty Bank, announced a quarterly dividend of 15.5 cents per share on 2,785,797 shares of its common stock. According to a Guaranty Federal news release, the dividend is to be paid July 15 to stockholders of record as of July 1. Guaranty Bank is the principal subsidiary of the holding company. Guaranty Bank has nine branches and 18 automated teller machines in Greene and Christian counties. |ret||ret||tab|

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Maples completes ABA grad school in Washington, DC|ret||ret||tab|

Mark Maples, vice president of Mid-Missouri Bancshares Inc., has graduated from the American Bankers Association Stonier Graduate School of Banking in Washington, D.C. The ABA Stonier Graduate School is held on the Georgetown University compus. It is a national three-year graduate school for bank executives. It is aimed at helping banking executives to develop successful leadership, managerial and analytical skills. The curriculum includes more than 40 courses, networking opportunities and online coursework. |ret||ret||tab|

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UMB Bank leadership appointments|ret||ret||tab|

UMB Bank N.A. announced that Joseph J. Gazzoli was promoted to executive vice president of asset management and William B. Greiner rejoined the company as chief investment officer. |ret||ret||tab|

Gazzoli joined the company in January as an executive vice president with UMB Financial Corporation and chairman in UMB Bank's St. Louis region. In his new position, Gazzoli oversees the bank's Asset Management and Trust & Wealth Management groups. Greiner has more than 20 years of experience in investment management. |ret||ret||tab|

He previously worked for UMB Bank between 1999 and 2003, overseeing the trust investments department and serving as CIO.|ret||ret||tab|

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Bank of Bolivar investment|ret||ret||tab|

Bank of Bolivar recently purchased 2 percent of the available outstanding stock in Data Center Inc., a private processing and technology company that services the bank. |ret||ret||tab|

"We've been a DCI customer for seven years, and they have been just great to us. I liked the idea of having ownership in a company that is owned by the customers (it serves)," said Brad Gregory, president of Bank of Bolivar, in a news release. "DCI knows where they are going as a company and has proven they know what they are doing. Plus, we actually think their stock is undervalued. All around, it is just the kind of investment we like." |ret||ret||tab|

DCI develops and delivers advanced bank technology products and services to community banks of all sizes nationwide. DCI has its headquarters in Hutchinson, Kan. |ret||ret||tab|

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Moody's upgrades Commerce|ret||ret||tab|

Moody's Investors Service on June 8 upgraded the long-term ratings of Commerce Bank NA. The specific upgrades included long-term deposits, which were upgraded from A1 to Aa3 and bank financial strength from B- to B. Also, according to a Commerce news release, Moody's confirmed the Prime-1 short-term rating of Commerce Bank NA and that of its parent company, Commerce Bancshares Inc.; The outlook for all ratings is stable. |ret||ret||tab|

The Moody's upgrade reflects the continuation of Commerce's healthy core earnings and asset quality from its regional banking franchise, which is centered in St. Louis and Kansas City. According to the release, Moody's also noted Commerce's solid core deposit position in all of its major markets and its ample liquidity and its strong management team as positive attributes in support of the upgrades. |ret||ret||tab|

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Bank of America splits stock |ret||ret||tab|

The Bank of America Board of Directors on June 23 declared a 2-for-1 stock split in the form of a common stock dividend. According to a Bank of America news release issued on that date, Bank of America also increased the quarterly cash dividend by 12.5 percent from 80 cents to 90 cents per pre-split share, which is 45 cents per post-split share. The common stock dividend will be effective Aug. 27 to common shareholders of record on Aug. 6. The cash dividend will be effective Sept. 24 for common shareholders of record on Sept. 3. |ret||ret||tab|

The board also declared a $1.75 regular cash dividend on the 7 percent cumulative redeemable preferred stock, Series B. That dividend is payable Oct. 22 to shareholders of record on Oct. 8. The board also declared a regular quarterly dividend of 84.375 cents per depositary share on the corporation's 6.75 percent perpetual preferred stock, payable Oct. 15 to shareholders of record Oct. 1. The board declared a regular quarterly dividend of 82.5 cents per depositary share on the fixed/adjustable rate cumulative preferred stock payable Oct. 1 to shareholders of record on Sept. 15. |ret||ret||tab|

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Jack Henry's Symitar contracts with 7th largest U.S. credit union|ret||ret||tab|

Symitar, the service and software subsidiary of Monett-based Jack Henry & Associates Inc., announced June 15 a partnership with Alliant Credit Union, the seventh-largest credit union in the United States. According to a Jack Henry news release, Alliant has more than $4.3 billion in assets and more than 170 members. Alliant will convert to Symitar's Episys in-house core-processing solution this year. The Symitar products will support Alliant's aggressive technology plan, which includes expansion of its imaging capabilities, e-commerce initiatives, service migration strategy and integration with key business partners.|ret||ret||tab|

Symitar is a wholly owned subsidiary of Jack Henry, a provider of integrated computer systems, services and ATM networking products for banks and credit unions. |ret||ret||tab|

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Commerce branch managers|ret||ret||tab|

Commerce Bank announced two new branch managers. |ret||ret||tab|

Tonya Hammons was promoted to assistant vice president and branch manager of Commerce's 2770 W. Republic Road location. Hammons has nine years of experience in banking. She previously held positions in retail and human services. As branch manager, she is responsible for business development and customer service related to consumer banking, lending and small-business services. She is a 2000 graduate of Southwest Missouri State University, where she received a bachelor's degree in human resource management. |ret||ret||tab|

Karen Rickstrew Favor was promoted to assistant vice president and branch manager at Commerce's banking center in Ozark. Favor has eight years of experience in banking and lending. Prior to her promotion, she served in key positions including regional retail banking officer and financial services manager at Commerce Bank's Battlefield banking center. Favor is a 2000 cum laude graduate of SMSU Honors College. In her new position, she is responsible for business development and customer service in banking, lending and small-business services. |ret||ret||tab|

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Great Southern Travel news|ret||ret||tab|

Brian McDaniel, corporate sales manager of Great Southern Travel, was appointed to the advisory board of Hickory Travel Systems Inc. Great Southern Travel is a member of Hickory Travel Systems, an international consortium/network of more than 260 travel agency members. McDaniel has 14 years of experience in the travel industry. McDaniel holds a bachelor's degree in business management from SMSU.|ret||ret||tab|

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U.S. Bank announces promotions|ret||ret||tab|

Barbara Boudle was promoted to vice president of U.S. Bank. She has 12 years of banking experience, including nine years in commercial lending. Karen Zatorski was promoted to credit analyst. She is a graduate of SMSU, where she earned a bachelor's degree in administrative management and a master's degree in business administration. Amy Sharp also was promoted to credit analyst. She earned a bachelor's degree in finance from SMSU.|ret||ret||tab|

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Jack Prim leads at Jack Henry|ret||ret||tab|

Effective July 1, Jack Prim was promoted from president to CEO for Monett-based Jack Henry & Associates Inc., and Tony L. Wormington was promoted from chief operating officer to president. Michael E. Henry, who was previously chairman and CEO, continues as chairman of the board, according to a news release. Prim has more than 25 years of industry experience. He has served as president since January 2003, and also previously served as chief operating officer and general manager of the e-services division. Wormington was named COO in 2003. He also previously served as vice president and general manager of technology services. |ret||ret||tab|

In a separate release, the company announced favorable third-quarter results, with revenues rising 21 percent for the quarter and continued improvements in gross and operating margins. Those improvements contributed to a 32 percent increase in net income for the third quarter and a 27 percent increase in net income for the nine months ended March 31.|ret||ret||tab|

Net income totaled $16.3 million or 18 cents per diluted share, and revenues were $119.7 million for the company's fiscal year 2004 third quarter. Revenues increased 16 percent to $341.4 million for the first nine months of fiscal year 2004, compared to $295.4 million in the same period of fiscal year 2003. |ret||ret||tab|

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