No. 5: Rebranded Arlo, Four States take places in area finance lineup

The area continued to flex its local banking muscles with two additions this year – Arlo Bank, formerly Systematic Savings, and Four States Bank.

Arlo Financial Holdings Inc.’s acquisition of Springfield-based Systematic Savings Bank was completed Oct. 1. The century-old bank with a branch in downtown Springfield was rebranded as Arlo Bank. President and CEO Mark Bybee said the deal closed right around $14 million. In the acquisition, Arlo Bank became a wholly owned subsidiary of Arlo Financial.

Arlo Bank is currently operating at the Systematic’s location at 318 South Ave. Bybee announced in mid-October that Arlo Bank acquired property at 4109 S. National Ave. for a new site. At the time, Bybee said the bank’s location there would open in 12-18 months, putting the launch in late 2025 or early 2026.

In a news release that accompanied the original announcement, Bybee expressed gratitude to the Systematic board for the chance to build on the bank’s legacy. He said that while the bank has rebranded to Arlo Bank, the group’s commitment to customers, the community and their team remains strong. Bybee said the investment in the bank aims to broaden the range of products and services, enhance technology and improve community accessibility.

Carthage-based Four States Bank, or 4SB for short, opened in September.

“Opening our doors is a culmination of hard work and passion,” said Jeff Williams, president and CEO of 4SB, in a release at the time. “We look forward to growing with Carthage and contributing to the success of the entire Four States region.”

According to a release from the office of Gov. Mike Parson, who attended the ribbon-cutting ceremony on Oct. 10 in Carthage, Four States Bank is the first new bank charter approved in the state of Missouri since September 2008. It operates as a wholly owned subsidiary of Four States Bancshares Inc. His release indicated the opening of 4SB represented an investment of more than $1.1 million and the creation of 27 jobs.

In an interview with SBJ, Williams said 4SB’s mission is to serve small- to medium-sized businesses and farmers and to provide and provide home loans.

Both banks relied heavily on the investment and expertise of area banking veterans – big hitters like Gary E. Metzger, Garry Robinson and Carter Peters help make Four States a reality. At Arlo Bank, all but two of Systematic’s 15 employees joined the new venture. Bybee himself gained extensive experience over decades working at U.S. Bank, Commerce Bank and OakStar Bank before becoming president and CEO at Arlo Bank.