Local banks merge
Freedom Bank’s Cassville facility, shown above, is now one of seven owned by Freedom Bancshares of Southern Missouri, Inc.
June 17, 2020
Freedom Bank of Southern Missouri is pleased to announce that on June 12, 2020, Freedom Bank of Southern Missouri, a Missouri state-chartered bank originating in Cassville, and its parent holding company, Freedom Bancshares of Southern Missouri, Inc. acquired through merger Community National Bank (CNB), located in Monett and Aurora.
The bank locations in Monett and Aurora will become branches of Freedom Bank of Southern Missouri.
Freedom Bank has five other bank locations: Cassville, Seligman, Willard, Shell Knob, and Golden. Stan Kelley, President and CEO of Freedom Bank of Southern Missouri, stated, “We are excited to finally bring the two banks together into one strong community bank, ready and willing to serve our customers.”
“Most important,” he continued, “the staff currently at CNB will be retained and Darrin Newbold will continue to be the president.
“Merging with a bank that shares our focus on customer relationships will ensure we can continue to provide the level of customer service our customers have come to expect, while at the same time assist in the continued growth of the communities we serve,” Newbold stated.
“Freedom Bank is excited to expand to Monett, Aurora and the surrounding communities,” Kelley stated. “We value the relationship that CNB has developed with their customers and look forward to serving them in the future with a wide array of services and products that Freedom Bank has to offer.” “A tremendous amount of effort and thought has been put forth by the management and board of directors of both banks to finally consummate and merge the two banks into one formidable community bank. I foresee a bright future for the continued success of Freedom Bank,” Michael Wallace, former Chairman of CNB and now board member of Freedom Bank stated.
Although the acquisition has been finalized, the processing systems of the two banks do not merge into one until the projected date of August 15, 2020. The current CNB customers will continue to use their existing accounts, checks, online & mobile banking, debit/ATM cards, etc. until August 15th, the projected conversion date of the two banks processing systems. The CNB customers will receive correspondence in the mail during the conversion process as well as pertinent information about their deposit and loan accounts as they are transitioned into Freedom Bank. Freedom Bank is committed to making the process as streamlined as possible (so that) customers experience minimal change.
“A new added strength and vigor for Freedom will occur when we combine the talent, experience, and knowledge of the associates and investors within the two banks that are coming together as one. The mission of Freedom Bank is to provide the superior quality of service that an existing or potential new customer expects from a community bank,” Kelley stated.
“If a customer has questions, they may contact any of our seven bank locations and we will strive to answer your questions,” he added.
Freedom Bank of Southern Missouri is pleased to announce that on June 12, 2020, Freedom Bank of Southern Missouri, a Missouri state-chartered bank originating in Cassville, and its parent holding company, Freedom Bancshares of Southern Missouri, Inc. acquired through merger Community National Bank (CNB), located in Monett and Aurora.
The bank locations in Monett and Aurora will become branches of Freedom Bank of Southern Missouri.
Freedom Bank has five other bank locations: Cassville, Seligman, Willard, Shell Knob, and Golden. Stan Kelley, President and CEO of Freedom Bank of Southern Missouri, stated, “We are excited to finally bring the two banks together into one strong community bank, ready and willing to serve our customers.”
“Most important,” he continued, “the staff currently at CNB will be retained and Darrin Newbold will continue to be the president.
“Merging with a bank that shares our focus on customer relationships will ensure we can continue to provide the level of customer service our customers have come to expect, while at the same time assist in the continued growth of the communities we serve,” Newbold stated.
“Freedom Bank is excited to expand to Monett, Aurora and the surrounding communities,” Kelley stated. “We value the relationship that CNB has developed with their customers and look forward to serving them in the future with a wide array of services and products that Freedom Bank has to offer.” “A tremendous amount of effort and thought has been put forth by the management and board of directors of both banks to finally consummate and merge the two banks into one formidable community bank. I foresee a bright future for the continued success of Freedom Bank,” Michael Wallace, former Chairman of CNB and now board member of Freedom Bank stated.
Although the acquisition has been finalized, the processing systems of the two banks do not merge into one until the projected date of August 15, 2020. The current CNB customers will continue to use their existing accounts, checks, online & mobile banking, debit/ATM cards, etc. until August 15th, the projected conversion date of the two banks processing systems. The CNB customers will receive correspondence in the mail during the conversion process as well as pertinent information about their deposit and loan accounts as they are transitioned into Freedom Bank. Freedom Bank is committed to making the process as streamlined as possible (so that) customers experience minimal change.
“A new added strength and vigor for Freedom will occur when we combine the talent, experience, and knowledge of the associates and investors within the two banks that are coming together as one. The mission of Freedom Bank is to provide the superior quality of service that an existing or potential new customer expects from a community bank,” Kelley stated.
“If a customer has questions, they may contact any of our seven bank locations and we will strive to answer your questions,” he added.
