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Springfield First Community Bank’s assets were $803.5 million as of Sept. 30.
SBJ file photo
Springfield First Community Bank’s assets were $803.5 million as of Sept. 30.

SFC Bank CEO retires

Posted online

Springfield First Community Bank's nine-year CEO has retired.

Rob Fulp is succeeded by Monte McNew, the company's president, effective immediately, according to a news release issued today.

“Serving as CEO at SFC Bank has been an honor for me and I’m proud of our reputation for serving clients and the community. Making the decision to retire is never an easy one, but the time is right to make this transition,” Fulp said in the release. “Monte is an outstanding leader, and I’m confident in his ability to lead SFC into the future.”

A company spokesperson said Fulp does not plan to join another organization. Fulp became chair and CEO of SFC Bank in 2011, after previously serving as president of BancorpSouth in Springfield. He also has past experience as president of The Signature Bank, which was purchased by BancorpSouth for roughly $170 million in March 2007, according to Springfield Business Journal archives. A member of the Missouri State University College of Business Executive Advisory Committee, Fulp has roughly 40 years of banking experience.

Fulp maintained his CEO role in 2018, when the board chair position went to former Springfield Area Chamber of Commerce leader Jim Anderson.

McNew became SFC Bank's president in 2017, after co-founder Brian Straughan left his position for an out-of-state job, according to past reporting. McNew previously was the company's executive vice president.

“Monte brings impressive experience to the role of president and CEO and has the support of a strong management team at SFC," Anderson said in the release.

McNew said he’s happy to continue building his career locally, noting he’s been a member of the community during his entire professional life.

“I look forward to building on the strong foundation we’ve established over the years,” he said in the release.

SFC Bank in 2018 sold to Moline, Illinois-based QCR Holdings Inc. (Nasdaq: QCRH) in a cash-and-stock deal valued at $90.7 million.

As of Sept. 30, SFC Bank had $803.5 million in assets, $592.5 million in deposits and $620.7 million in loans and leases, according to QCR's latest quarterly report.

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