Citizens Union State Bank of Clinton, Missouri, Completes Acquisition of Missouri State Bank and Trust Company Branch in Springfield, Missouri.Business Editors JEFFERSON CITY Jefferson City, city (1990 pop. 35,481), state capital and seat of Cole co., central Mo., on the south bank of the Missouri River, near the mouth of the Osage; inc. 1825. , Mo.--(BUSINESS WIRE)--July 11, 2003 James E. Smith, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Exchange National Bancshares, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : EXJF) announced today that Exchange National Bancshares has completed its purchase of Missouri State Bank and Trust Company's Springfield, Mo., branch. The acquisition was accomplished by merging the Springfield branch into Citizens Union State Bank & Trust of Clinton's banking network. In an agreement signed June 26, Citizens Union State Bank & Trust purchased Missouri State Bank and Trust Company's branch in Springfield, Missouri Springfield is the third largest city in Missouri. On July 1, 2006, its estimated population was 150,797, of whom 150,790 lived in Greene County and 7 lived in Christian County[1]. It is the county seat of Greene County. . The banking center at 321 West Battlefield in Springfield began operating under the Citizens Union State Bank & Trust banner June 27 and provides a range of banking activities, including loans, deposit accounts and ATM services. James E. Smith, Chairman and CEO of Exchange National Bancshares, Inc. stated: "We are excited about the opportunity to serve our existing customers in this new location and to develop new relationships in Springfield and the surrounding communities. This purchase is an extension of our strategy to move into metropolitan growth areas." Chairman Smith added: "Springfield Branch President Jim Riggins will continue to manage the Springfield branch and no personnel changes are anticipated. Additionally, Mr. Riggins and Jim Youngblood Jimmy Lee Youngblood (born February 23, 1950 in Union, South Carolina) was an American football linebacker in the NFL. He played for the Los Angeles Rams for almost his entire career, but also played for the Washington Redskins. were added to Citizens Union State Bank & Trust's Board of Directors upon completion of the acquisition." In connection with the transaction, Citizens Union State Bank will receive approximately $30 million in loans and $34 million in deposits as well as the real estate and tangible assets Tangible Asset An asset that has a physical form such as machinery, buildings and land. Notes: This is the opposite of an intangible asset such as a patent or trademark. Whether an asset is tangible or intangible isn't inherently good or bad. of the branch. Prior to the purchase, Citizens Union State Bank reported total assets of $240 million and eight banking offices throughout Clinton, Collins, Osceola and Windsor, Missouri Windsor is a city in Henry County and Pettis County, Missouri. The population was 3,087 at the 2000 census. The United States Postal Service ZIP code is 65360. Windsor has eight churches, one bar, an elementary school, and a junior and senior high school (Mascot: Greyhound). . Upon completion of the branch purchase, Exchange National Bancshares will have total assets of approximately $825 million. Exchange National Bancshares, a multi-bank holding company headquartered in Jefferson City, Missouri “Jefferson City” redirects here. For other uses, see Jefferson City (disambiguation). Jefferson City is the capital of the State of Missouri and the county seat of Cole County. , is the parent company of The Exchange National Bank of Jefferson City with locations in California, Tipton and St. Robert; Citizens Union State Bank & Trust of Clinton with locations in Windsor, Collins, Osceola and Springfield; and Osage Valley Bank of Warsaw. Statements made in this press release that suggest Exchange National Bancshares' or management's intentions, hopes, beliefs, expectations, or predictions of the future include "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in such forward-looking statements is contained from time to time in the company's quarterly and annual reports filed with the Securities and Exchange Commission. |
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