Springfield First Community Bank set to open

Springfield's newest locally owned bank is ready to open its doors and enter the area's competitive banking market.

Springfield First Community Bank's first day in business will be Friday, according to a news release. The new bank is operating out of two modular units at 2006 S. Glenstone Ave., the former location of Merigold Inn. A permanent office is being constructed there and should be complete in about a year.

Three veteran bankers earlier this year left jobs at BancorpSouth, the Tupelo, Miss.-based bank that merged with locally owned The Signature Bank in 2007, and now head up Springfield First. They are President and CEO Brian Straughan, Executive Vice President Jan Baumgartner and Chief Financial Officer Kirk Bossert.

The team filed for a charter in May, when Springfield Business Journal first broke the story, and the charter was approved Sept. 22. The bank raised $22 million in startup capital from 71 area investors.

The bank is starting with 22 employees and offers drive-through service and an ATM, in addition to personal and business banking products.[[In-content Ad]]