YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Boone National Savings had $15.4 million in equity as of Dec. 31, and Commerce agreed to pay an additional $16.25 million premium for the business.
The acquisition adds four bank branches in Columbia and loan production offices in Ashland and Lake of the Ozarks. Commerce now has 16 Columbia locations.
Commerce signage was unveiled Friday. The former Boone location at Ninth and Broadway in Columbia will serve as the main banking center for Commerce’s central Missouri region.
With the completion of the acquisition, Commerce’s deposits for the central Missouri region total about $525 million. The company plans to expand further in Columbia by the end of the year with a full-service banking center, currently under construction, at Brown School Road and Highway 763.
Rick Kruse, former president and CEO of Boone National Savings, will join Commerce’s regional advisory board of directors.
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.
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