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Bank of Springfield president retiring

Michael L. McGlasson, president of Bank of Springfield, Ill., has announced his plan to retire effective Dec. 31.

McGlasson began his banking career in 1973 with Marine Bank in Springfield and later went to Illinois National Bank. He joined Bank of Springfield in 1997 as senior vice president of commercial and mortgage lending. He spent most of his banking career in commercial lending and was named president of the bank in May 2003.

Tom Marantz, CEO and chairman of the $1 billion bank, attributed much of the bank’s success to McGlasson’s leadership.“Mick is a consummate commercial banker who was part of the backbone that positioned BOS as a leading bank in Illinois. His knowledge of banking and his commitment to employee development were key drivers in the bank’s growth,” Marantz said.

During McGlasson’s tenure as president, Bank of Springfield expanded into the St. Louis metro east, Quincy and St. Louis County markets. The bank added 10 additional branches and its assets have grown from $100 million to more than $1 billion.

McGlasson will continue to serve on the board of directors for the bank’s holding company, Spring Bancorp Inc.

Founded in 1965, Bank of Sprinfield serves nine communities with branches in Springfield, Chatham, Jacksonville, Quincy, Shiloh, Swansea, Glen Carbon and Staunton, Ill., and one branch in St. Louis, Mo.