Banks follow economies in Stone, Taney counties

“When you have the $400 million development at the Branson Landing, that gets bankers’ attention,” said Craig Richards, President and CEO of Ozark Mountain Bank, which opened its seventh branch in June on U.S. Highway 65 in Hollister. “The local economic growth is good right now.”

In Branson alone, city officials forecast new construction for 2006 to override a record year of new construction in 2005. Through June, the value of new construction exceeded $131 million, more than three-fourths the construction values for all of 2005 – $173.6 million. The city’s planning and development department has issued 1,015 building permits for the first half of 2006 compared to 986 in all of 2005.

Another factor is population increases in both counties – each by about 11 percent during the past two years. The population of Stone County grew from an estimated 30,720 in 2004 to 33,240 in 2006, and Taney County’s population grew from an estimated 41,939 to 46,455 during the same period, according to figures from www.epodunk.com and Ozarks Regional Economic Partnership. Branson’s population is now estimated at 8,000, up from 6,050 during the 2000 U.S. Census.

The activity has caused new banks to sprout and existing banks to expand.

Table Rock Community Bank

The newest area bank, Table Rock Community Bank, opened Aug. 28 at 1 Lakeshore Drive in Kimberling City. Kimberling City attorney Martin Studer said he organized the bank last fall with St. Louis trust company manager Paul Vogel because “a community bank was needed.”

The bank has assets of $4 million from 99 investors. “Of our 99 shareholders, 75 percent are from the immediate area,” Studer noted. “We can put the money to work right here in the community.”

Studer and company nabbed longtime local banker Larry Price from retirement to serve as president and CEO. “Larry has been a banker in Stone and Taney counties for more years than he would probably want us to say. He helped to start two banks here in the past,” Studer said.

Price was with the Bank of Taney County in Forsyth from 1962-1973 and the Bank of Kimberling City from 1973-1995.

Table Rock Community Bank is using 3,300 square feet of remodeled office space in Kimberling Village. A two-story bank is slated to be constructed adjacent to the current location by fall 2007. The architect is Butler, Rosenbury & Partners Inc., but Studer said a general contractor has not been named.

Stone County National Bank

Another Stone County bank, Stone County National Bank, will open its fifth branch in mid-September at Highway 13 and DD, just south of Branson West. Kirk Mourer, president of the Crane-based bank with assets of $80 million, said the Branson West branch will employ five people, including branch manager Mark Clark.

Mourer said the full-service branch will be housed in a modular building until the two-story, 13,000-square-foot building is completed in 2007. The bank has selected Slone Architects, Great River Engineering, Crocker Consulting Engineers Inc., Wells & Scaletty LLC and Federal Construction Inc. to design and construct the building.

Citizens Union State Bank & Trust

About a year ago, Clinton-based Citizens Union State Bank & Trust completed its two-story, 11,000-square-foot branch on Gretna Road in Branson. The full-service branch employs nine people, according to Pamela Yancey, senior vice-president.

Yancey said that one of the reasons Citizens Union came to Branson was the “tremendous opportunity here because of the exciting things going on such as the Branson Landing. Branson is a good place to be from a business perspective.”

Arvest Bank

Arvest Bank, with a home office in Bentonville, Ark., will soon have two locations in Branson. The first branch employs five since opening May 26 at Branson Landing, according to Arvest Marketing Director Misty Krug. She said the second branch will open in mid-December at Highway 248 and Gretna Road. That branch will employ 10 to 15, including three loan production personnel currently housed in a temporary office on Highway 248, Krug said. Greg Baker is the president of the Branson market for Arvest.

Liberty Bank

Liberty Bank of Springfield moved into its newly constructed branch May 31 on Highway 248 in north Branson. Mark Kyle, vice-president of the Branson location, said the bank first opened in August 2005 at a temporary downtown Branson spot. He said the full-service banking facility employs 12 people.

First Community Bank

First Community Bank President David Cook said construction will be completed in October on the bank’s second permanent building off U.S. Highway 65 in south Hollister.

Cook said First Community Bank already has a branch in Forsyth and plans to build a third branch in 2007 on Highway 248 in Branson. First Community Bank is 13 years old with assets of $83 million and 43 employees.