Regional Missouri Bank is acquiring Bank of Cairo and Moberly, both located in north central Missouri. The deal was announced April 5.
Regional Missouri Bank, with $244 million in assets, is based in Marceline, Mo. Bank of Cairo and Moberly has assets of $106 million. The transaction remains subject to regulatory approval.
Patrick Kussman, who has been president and CEO of Regional Missouri Bank since 2017, will be president of the merged bank. Bank of Cairo and Moberly (BC&M) executives, Rob Cater, president/CEO and Craig Plaster, CFO will remain as officers of the merged bank and be elected members of the board of directors.
“The Moberly and the Randolph County area is very similar to the locations where Regional Missouri Bank presently operates,” Kussman commented. “The Bank of Cairo and Moberly employees are a great fit given their experience and involvement in supporting the financial needs of their neighbors and friends as well as their dedication to community service.”
“The officers and staff of BC&M are excited to team up with our friends from RMB to offer our customers continued exceptional banking products and personalized services,” Cater said.
Regional Missouri Bank is a locally owned community bank serving the communities and surrounding areas of Marceline, Salisbury, Keytesville, Glasgow, and Paris. The bank, which was originally formed as the Bank of Bynumville in 1908, was purchased by the present ownerships group of area business people in 1990. Since that time, the bank has grown to serve Chariton, Linn, Howard, and Monroe Counties.
Bank of Cairo and Moberly started as the Bank of Cairo when 20 subscribers of stock met at the Masonic Hall in 1905. They saw the need for an institution that could make sound loans to the farmers and proprietors and would be a financial hub for the area. The present ownership has been in place since 1981.