FSCB completes acquisition of nine Bank of America’s
First State Community Bank, a community bank headquartered in Farmington, Mo., has successfully purchased nine Bank of America locations effective June 21, 2013.
The purchase includes branches in Boonville, Cape Girardeau, Jackson, Kennett, Mexico, Moberly, Richland, Rolla, and Vandalia. The transaction will increase FSCB’s asset size to approximately $1.7 billion and increases First State Community Bank’s regional footprint to 46 locations throughout Missouri.
“We have had the rare opportunity to greatly expand our presence throughout Missouri and specifically within our regional footprint.” Greg Allen, CEO and Chairman of First State Community Bank said. “We are excited to have new team members on board and we are also eager to serve our new FSCB customers.”
First State Community Bank, founded in 1954, has been growing steadily in recent years. Including the nine locations acquired from Bank of America, the company has added 23 new locations since 2008, nearly doubling in size.
FSCB is a full-service financial institution, with a variety of loan and deposit products and services. The bank also owns First State Insurance Agency (FSIA), a full-service independent insurance agency. Investment and brokerage services are available through First State Financial Management, Inc. (FSFM), a wholly owned subsidiary of First State Bancshares, Inc.
Since 1954, FSCB has been known for its friendly service, financial literacy efforts, community involvement and sound lending decisions. FSCB is owned and operated by First State Bancshares, Inc., a financial services holding company with approximately $1.7 billion in total assets based in Farmington, Mo. Current FSCB locations, excluding newly acquired banks, are in Farmington, Bonne Terre, Cape Girardeau, Columbia, Desloge, DeSoto, Festus, Fredericktown, Hayti, Hillsboro, Imperial, Ironton, Leadwood, Malden, Owensville, Park Hills, Perryville, Portageville, Potosi, Risco, Sikeston, Shady Valley, Sullivan, St. Mary, Terre du Lac, Washington, Warrenton and Wright City.