Old Missouri Bank buys Mount Vernon c-store for new branch

Photo courtesy Google Maps

Old Missouri Bank buys Eli’s Short Stop with plans to convert it to a new branch by year’s end.

RELATED

Old Missouri Bank seeks foothold in Mount Vernon

Springfield-based Old Missouri Bank purchased a Mount Vernon convenience store with plans to open a branch on the property by year’s end.

Bank spokeswoman Shanda Trautman said Eli’s Short Stop — at 510 W. Mount Vernon Blvd., near Wal-Mart — closed Jan. 20.

“We’ll be able to use parts of the existing building,” she said, noting Paragon Architecture LLC is finalizing the redesign plans and a general contractor has not yet been selected.

Trautman declined to disclose the purchase price or Old Missouri Bank’s planned investment in the new branch.

While crews work on the new location, Old Missouri Bank is operating its sixth full-service branch at a temporary site, 318 W. Mount Vernon Blvd. The company on Jan. 22 converted the former loan production office that opened in November into the temporary branch. It’s leased from Mount Vernon Financial Properties LLC, Trautman said.

The temporary branch is staffed by three employees, and Old Missouri Bank intends to hire more workers when the permanent branch opens, she said.

Old Missouri Bank in June 2017 announced it was seeking a brick-and-mortar location for a loan production office and an eventual branch.