The Bank opens 2nd location on Battlefield

Born of the opportunity created by one merger, The Bank is expanding its operations as news of another merger makes headlines.

The Bank has received state regulatory approval to open its second location at 3333 E. Battlefield. President and CEO Todd Parnell said the branch should be open by mid-May. Brian Williams will be manager of the new location, with Teresa Blair as assistant manager, Parnell said.

Its first location, opened in 1997, is at 1433 E. Republic Road.

"It's been a push to get this branch open as soon as possible because we're growing," Parnell said. "We opened with the unique window of opportunity" of the NationsBank and Boatmen's merger that continues with the latest merger news.

The Bank also has issued an additional 25,000 shares of stock in City Bancorp, its holding company. The action will raise $2.8 million when complete at the end of April. Parnell said a new prospectus was issued with the latest stock offering that contained the actual performance of the bank in its opening months. Shares were offered first to current stockholders and have all been subscribed from that group.

In addition, Parnell said, The Bank has added Dan Derges as a commercial banker and Kevin Dull as a mortgage lender.

The Bank opened July 24, 1997, and was approved for its second location March 31, 1998, by the Missouri Division of Finance. The Bank reports total assets of $47 million and was initially capitalized with $6.15 million.

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