Local banks respond to growth, add north-side sites

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Two local banks are exploring new frontiers as they pioneer locations on the north side.|ret||ret||tab|

The Bank and Citizens National Bank will open new branches on East Kearney Street in the spring, marking both banks' entry to the north-side market. |ret||ret||tab|

Meanwhile, Great Southern Bank is moving further north, relocating its North Town Mall branch to 2410 N. Glenstone Ave.|ret||ret||tab|

The north-side activity signifies that the banks' anticipate future growth in the area, but it also is a reaction to past development, according to Greg Williams, vice president of economic development at the Springfield Area Chamber of Commerce.|ret||ret||tab|

"There has been a good, strong business base on the north side for years," Williams said. "(The banks) are reacting to the growth, and they are planning for future growth on the north side."|ret||ret||tab|

With the addition of The Bank at 2144 E. Kearney St., and Citizens National Bank at 2960 E. Kearney St., there will be six banks near the intersection of Glenstone Avenue and Kearney Street and east along Kearney.|ret||ret||tab|

"We had nothing on the north side of Springfield," said Rick German, who will serve as president of The Bank's Kearney branch. "We felt like it was an area of the community that could help us with our business plan."|ret||ret||tab|

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Solid market|ret||ret||tab|

While it's an untapped market for the new banks, representatives from the existing banks say it has been a good market for years. Existing banks Great Southern, UMB Bank, US Bank and Guaranty Federal planted roots there as early as the 1970s.|ret||ret||tab|

"They're just pointing out what those of us that have been serving that area for years have known and that is that the north-side market is growing and expanding," said Bill Owen of UMB Bank, with a branch at 2300 N. Glenstone Ave.|ret||ret||tab|

The north-side market has always been good for Great Southern as well, according to Doug Marrs, the bank's vice president of operations. Great Southern opened the North Town Mall branch in 1977.|ret||ret||tab|

"With the growth out to the north of town, it's just a good market. Perhaps they see it the same way we do," Marrs said of the incoming banks.|ret||ret||tab|

Williams expects another wave of development, led by restaurant and retail activity.|ret||ret||tab|

"Restaurants and retail have built up to a point that these financial institutions have found it in their best interest and in the best interest of their customers," to build, he said. "That is a very good economic indicator as far as I'm concerned."|ret||ret||tab|

Ryan's Family Steak House opened a second Springfield location on East Kearney Street earlier this year, and Steak N' Shake franchise owner Gary Leonard is building his fifth restaurant at 2760 N. Glenstone Ave.|ret||ret||tab|

Furthermore, industrial development at North Creek Business Park has generated excitement. Two tenants have signed there and others are expected soon, according to real estate agent Tom Rankin.|ret||ret||tab|

"I think (development) bodes well for the area," Leonard said. |ret||ret||tab|

"I've looked at some of the other restaurants that have gone in there in the last few years and they seem to be performing well. I think there is a lot of good industry up there and I think there is a lot of good residential up there. I keep thinking something will happen to the North Town Mall eventually," he added.|ret||ret||tab|

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Opportunity knocks|ret||ret||tab|

Add that growth to the established employers in the city's industrial park and at Bass Pro, Loren Cook, Missouri Department of Transportation, Missouri Highway Patrol and Coca-Cola/Dr Pepper Bottling Co. and Frank Hilton, founder of Citizens National Bank, sees opportunity. |ret||ret||tab|

"There is a lot of business activity up and down Kearney," he said.|ret||ret||tab|

Then, why the delays in staking claim there? |ret||ret||tab|

"The other areas in town were more lucrative for the time that we were looking at them," Hilton said. "But now the time has come for north Spring-field. We're going to see a lot of activity."|ret||ret||tab|

The Kearney Street locations will be the fourth branches for both Citizens National Bank and The Bank. CNB's new facility represents an investment of $600,000 and The Bank is investing $500,000 in its new branch.|ret||ret||tab|

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Great Southern moves|ret||ret||tab|

In other banking activity, Great Southern also is building a second Nixa location. With a branch on West Highway 14, the bank is adding a northern location at Tracker Road and Main Street, Marrs said. |ret||ret||tab|

When complete, it will be the bank's 30th location.|ret||ret||tab|

Great Southern also plans to occupy the former Albertson's store on South Glenstone Avenue, which has been vacant since Price Cutter purchased it in April. |ret||ret||tab|

Marrs said the 63,000-square-foot building will house its administrative offices and miscellaneous operations sometime next year. |ret||ret||tab|

A retail presence is planned there as well, but the bank is not sure what form it will take.|ret||ret||tab|

Marrs expects the deal to close in a couple of weeks.|ret||ret||tab|

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