Longtime Bolivar bank rebranded

Bolivar-based LimeBank yesterday announced a rebrand.

Grand Missouri Bank is the new name for the financial institution established in 1910. Springfield Business Journal announced the bank’s acquisition with plans to change the name in May.

Investment group Steele Acquisition Inc. purchased the bank from Clayton-based Stark Bancshares Inc., which has owned the institution since 2018 and gave it the LimeBank appellation two years later. It was previously known as Farmers State Bank.

A news release from Grand Missouri Bank indicates that the new name reflects a shift in focus.

“With this change comes a renewed focus on local ownership, local decision-making and long-term investment in the communities we serve,” the release states.

The rebrand work was done in-house, says marketing officer Maddye McConnell, noting new signage will be installed this week.

Officials say the transition marks a return to the institution’s roots as a locally chartered community bank. Grand Missouri Bank is the only locally chartered bank in Bolivar, the announcement states.

“We’re returning to the foundation of what community banking is all about – relationships, trust and service,” said Matt Henenberg, board member. “As Grand Missouri Bank, we’re committed to being a true partner to our customers and our communities.”

On the bank’s website, board member John Kallenbach touts its return to local ownership.

“This transition allows us to renew our focus on serving the unique financial needs of the community,” he says. “Our customers can take pride in the fact that their deposits will stay local and support the growth of area businesses and support the needs of our friends, families and neighbors.”

According to past SBJ reporting, Steele Acquisition Inc. is an investment group with members from three states. A March 13 notice by the Federal Reserve System lists the Steele Acquisition investors as Tony Steele, Tyler Steele, Carolyn Grimsley, Jill Grimsley, Paul Grimsley and Guy Cable, each of Bentonville, Arkansas; Philip Fletcher, Hiwasse, Arkansas; Kirby Lane, Anderson, Missouri; Tommy Coughlin, Centerton, Arkansas; John Kallenbach and Jim Hacker, each of Bolivar; Roland Julian, Rogers, Arkansas; Beverly Jones, Jay, Oklahoma; and Pam Lawson, Grove, Oklahoma. Cable, who also is CEO of Arkansas-based Grand Savings Bank, said LimeBank and Grand Savings Bank would operate as separate, independent banks despite sharing some common ownership.

Steele Acquisition issued a Jan. 8 notice to the U.S. Securities and Exchange Commission pointing to a $12.5 million private placement, with the "proceeds to be used as merger consideration."

The bank has four branches – two in Bolivar, one in Wheatland and one in Pittsburg.

As of Dec. 31, LimeBank had $124.4 million in assets, according to Federal Deposit Insurance Corp. data previously reported by SBJ. The bank reported a loan-to-deposit ratio of over 98% in December 2024.