Old Missouri Bank launching investment initiative

Last edited 1:36 p.m., Feb. 8, 2023

Old Missouri Bank has entered a partnership to allow its customers to invest in public companies.

In partnership with New York City-based Bits of Stock, OMB's customers can earn fractional stock rewards on debit card transactions, as well as round up purchases for investments, according to a news release.

OMB Director of Marketing Ryan Bowling said via email the initiative would allow investments in "primarily Fortune 500 companies." Old Missouri Bank is not publicly traded on an exchange and therefore will not be available through the initiative, he added.

“Providing customers with new ways to build wealth is fundamental to our commitment to community," OMB Chief Operations Officer Steve Bishop said in the release. "There is often a barrier to entry into the stock market, but Bits of Stock’s technology helps make investing more accessible and, in turn, helps our customers build healthier financial habits, which is our ultimate mission.”

Bits of Stock will provide its services to OMB through Monett-based financial software firm Jack Henry & Associates Inc.'s (Nasdaq: JKHY) core banking and Banno digital banking platforms.

While the program is not limited to local companies, the Springfield area has two Fortune 500 businesses.

O’Reilly Automotive Inc. (Nasdaq: ORLY) is the highest ranked local Fortune 500 company, according to past reporting. On the 2022 list released in May last year, O'Reilly Automotive ranked No. 279. Carthage-based manufacturer Leggett & Platt Inc. (NYSE: LEG) was No. 598 on the list, which ranks 1,000 companies in all. No other southwest Missouri companies made the list.