Three additional Mid-Missouri Bank officers fired; investigation ongoing

P. Lee Gilbert – chairman, president and CEO of the Springfield-based Mid-Missouri Bancshares Inc. – said May 1 that Couch, McReynolds and Langston were dismissed “for cause.”

The bank dismissed Joplin branch president Scott Rosenthal and loan officer Kay Muskrat on April 12. Couch and McReynolds were suspended at that time. Langston was not suspended at the time but Gilbert said he had been terminated as of May 1.

Gilbert visited the Joplin bank May 1 to meet with Thane Kifer, Mid-Missouri’s vice president and attorney, to discuss the status of the investigation that involves the Missouri Division of Finance, the Federal Deposit Insurance Corp., the Federal Bureau of Investigation and the bank’s bonding company. Gilbert said he couldn’t reveal the nature of the investigation or the reason for the terminations of the five bank employees.

He did confirm, however, that contrary to persistent rumor, Rosenthal and Muskrat were not handcuffed when they were escorted from the building on April 12.

“There is nothing wrong with the bank and all depositors and customers are fine,” Gilbert said. “There were some individual (customers) involved, but we’re working with any of those on a case-by-case basis. None of our customers are at risk and we want to assure them that they’ll be taken care of.”

When asked if the bank had lost any money because of the incident under investigation, Gilbert said, “I don’t have any idea. We’re still trying to get our arms around it all to see what numbers match up and what don’t.”

Gilbert said no credit had been extended to any customers beyond their qualifications and that the incidents involving the employees who have been fired have been going on “long before this year.”

“I didn’t know anything about it until two days before they were terminated,” Gilbert said.

Kifer said he and Gilbert would love to be able to comment on the investigation but can’t. “Our hands are tied,” Kifer said, “and progress moves slowly.”

Couch and Langston, when contacted at their homes, also said they couldn’t comment. Multiple calls to McReynolds’ home on May 2 were met with a busy signal.

Gilbert said employees from other branches are filling the five vacant positions. Steve Walker is serving as Rosenthal’s replacement until the company can hire a full-time replacement. Gilbert said Mid-Missouri is looking both in and out-of-house to fill vacancies.

This story first ran in the May 7 Joplin Tri-State Business, SBJ’s sister publication.[[In-content Ad]]