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Legacy Bank makes C-suite promotion

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Legacy Bank & Trust Co. announced its second executive-level promotion of the month.

Jeremy Loftin was named chief operations officer, according to a news release. He was hired as senior vice president of business development last year after previously serving as chief investment officer at Missouri Trust & Investment Co.

“No one in the bank exemplifies our core values and principles more than Jeremy. He is a talented leader that works hard and always serves others," Legacy Bank President Brett Magers said in the release. "This is what is expected for every employee at Legacy but to a higher level of degree among the leadership team."

Legacy Bank earlier this month announced Magers' promotion to president from chief lending officer. Former President and CEO John Everett retained his chief executive title.

Loftin's new position represents a shift for the company. Chief Financial Officer Brandon Taylor previously also held the role of COO.

Legacy Bank spokesperson Katrina Sweaney said new leadership was needed as the company has doubled in size during the past two years.

"We needed additional high-level management employees to properly invest in our staff and continue to expand in a principled manner," Sweaney said via email.

Legacy Bank held $540 million in assets as of Nov. 30, according to the release. When Loftin joined the company last year, it had roughly $270 million in assets, according to past reporting.

The company ranked No. 19 on Springfield Business Journal's list this year of the area's largest banks and savings bank, based on $224.3 million in Springfield metropolitan statistical area deposits held as of June 30.

As the company expands its leadership ranks, it's also growing its footprint. Legacy Bank is developing its new headquarters at a former Meek’s Lumber Co. lot. The $7.5 million-$8 million project at 3250 E. Sunshine St. is slated for completion in June 2021, according to past SBJ reporting.

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