Empire Bank lends support to economic plans

Bank Chairman and CEO Mike Williamson said the institution’s biggest influence is acting as a financial intermediary, facilitating economic plans for others.

“It allows them to do projects they couldn’t do otherwise,” he said, pointing to Hammons Field, Central States Industrial’s evolution and Brentwood Management’s loft development on Walnut Street. “We are a lending bank.”

Empire was the lead bank in financing Hammons Field; the financial institution signed off on $23 million and organized the remaining financing for the $32 million ballpark.

With a 90-10 loan-to-deposit ratio, loans are clearly the $770 million bank’s supreme asset.

When it comes to economic impact, lending activity overshadows the bank’s $44 million 2005 revenue, its $7.5 million 2005 payroll and its more than 200 employees, Williamson said. Commercial loans comprise 65 percent of the loan portfolio, while personal/consumer loans make up 26 percent and real estate is 9 percent.

The commercial loans support company payrolls and product development, but Williamson said more importantly, they help facilitate southwest Missouri’s “economic engine.”

“They take the risk, and we provide funding. We only win when they are successful,” he said, citing Central States Industrial as an example.

The stainless steel manufacturer moved from Jefferson City to Springfield, occupying a one-bay warehouse building off of Cherry Street before expanding to two bays. The company then constructed a building off of East Chestnut Expressway, added on there, and finally settled in at the Partnership Industrial Center.

“We’ve started with them, they’ve been successful and we continue to work with them,” Williamson said.

The bank also is known for its longevity among staff members. Empire has 32 employees with more than 25 years of service each, which adds up to 1,002 years at the bank, Williamson said.

Bank President Russ Marquart said that longevity speaks to the bank’s longstanding philosophy of promoting from within. He would know: Marquart has worked at Empire since his college days and was named president April 20.

“These people are seasoned veterans of the banking industry, and they provide stability and continuity, which is very important to the community,” Marquart said, adding that Empire continues to look for new talent.

Community involvement ranks high among Empire’s staff, starting with senior management.

For instance, Marquart is a past board president for American Red Cross Greater Ozarks Chapter and president of Springfield Rotary Club; Chief Lending Officer Joe McCarty is immediate past chair and a board member of United Way; Chief Financial Officer Jim Bradenburgh is treasurer for both the Affordable Housing Action Board and the First Baptist Church Foundation; and Williamson is immediate past chairman of the St. John’s Hospital Board and president of Springfield Sister Cities Association.

“We think that things that are good for Springfield will help the bank and vice versa,” Williamson said. “We encourage all of our people to be active volunteers in the community.”

Empire Bank

Address: 1800 S. Glenstone Ave., Springfield, MO 65808

Phone: (417) 881-3100

Web Site: www.empirebank.com

2005 southwest Missouri Revenues: $44.1 million

2005 payroll: $7.5 million[[In-content Ad]]