Citizens Union State Bank of Clinton, Missouri to Acquire 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)--April 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:EXJF) and James A. Saitz, Chairman and CEO of Trustcorp Financial, Inc. today announced the signing of a definitive agreement for the acquisition of Missouri State Bank's branch located 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. . Chairman Smith stated that Citizens Union State Bank of Clinton, a subsidiary of Exchange National Bancshares, Inc., and Missouri State Bank, a subsidiary of Trustcorp Financial, Inc., signed a definitive agreement for Citizens Union State Bank to purchase Missouri State Bank's branch office located at 321 West Battlefield Road, Springfield, Missouri. Citizens Union State Bank currently has 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). . The purchase is subject to regulatory approval from the FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). and Missouri Division of Finance and is expected to close during the 2nd quarter of 2003. In commenting on the purchase, Chairman Smith 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." Chairman Saitz said, "We have valued our relationships with our customers and the dedicated service of our employees in the Springfield area. Jim Riggins and his team will continue to provide a high level of personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. service and a quality work environment -- now under the banner of Citizens Union State Bank." 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. Exchange National Bancshares, Inc., a multi bank holding company, is the parent holding company of Exchange National Bank of Jefferson City, Citizens Union State Bank of Clinton and Osage Valley Bank of Warsaw Warsaw (wôr`sô), Pol. Warszawa, city (1993 est. pop. 1,655,700), capital of Poland and of Mazowieckie prov., central Poland, on both banks of the Vistula River. . Upon completion of the branch purchase, Exchange National Bancshares will have total assets of approximately $825 million. Missouri State Bank, headquartered in St. Louis, is a wholly-owned subsidiary of Trustcorp Financial, Inc. with over $550 million in assets. Missouri State Bank continues to operate seven banking locations in the St. Louis metropolitan area. |
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