YOUR BUSINESS AUTHORITY
Springfield, MO
The Branson-area banking industry is changing up through a newly announced acquisition.
Kimberling City-based Table Rock Community Bank is selling to southeast Missouri operation Alton Bancshares Inc., the holding company for First Community Bank of the Ozarks in Branson and Alton Bank in the city of the same name, according to a news release. The financial terms of the deal were undisclosed.
"Table Rock Community Bank is well known for serving the financial needs of businesses and families in Stone County," said Kendall Combs, chair of Alton Bancshares, in the release. "Customers of Table Rock Bank can look forward to the same level of service and commitment from the team of dedicated professionals, and they will benefit from expanded services in the future."
The acquisition would bring Alton Bancshares' branch total in the Branson area to five. Together, Alton Bank, First Community Bank and Table Rock Community Bank would have assets of $400 million.
Table Rock Community Bank, which has $150 million in assets, two branches and a loan production office in Crane, was formed in 2006, according to the release. With $144 million in assets and three branches, First Community Bank was purchased by Alton Bancshares in 2012 after it was founded in 1993.
Alton Bancshares co-owner Mike Combs said via email the deal is expected to close by the end of the second quarter. The banks will keep their names and operate separately for 12-18 months, he said, noting the goal is to consolidate the two in the future.
Cedars Family Restaurant has cooked up comfort for over three decades.
Aquatic center fronting Sports Town in the works
STL construction firm buys KC company
Spring 2024 Construction in the Ozarks
SPD issues 36 citations to businesses for violating city’s gaming machine ban
Lost & Found Grief Center hires executive director
Nixa spokesperson takes job with city of Joplin
Missouri House speaker accused of obstruction in ethics probe