Business notebook: Bank of Missouri chief reflects on its 125 years

As the Bank of Missouri hit its 125-year anniversary, bank president John M. Thompson reflected on how remarkable the anniversary is.

"Our bank franchise is older than the Coca-Cola brand and older than the game of basketball," Thompson said. "I think it's amazing we've endured all that time and remained independent."

As one would expect, the Bank of Missouri has changed considerably since it was chartered as the Bank of Perryville in 1891. It held that name and location for more than 100 years, serving its community and even bringing Perry County its first ATM in the mid-1980s.

But in 1997, the bank expanded from its headquarters and opened a second branch in Cape Girardeau, prompting a name change.

"We like to say we're sorry for the inconvenience that we've changed our name once in the last 125 years," Thompson joked.

Downtown Perryville, Missouri, is seen during the 1890s. Bank of Missouri officials believe the building on the lower right with large shutters is the original Bank of Perryville.Courtesy

And from that name change came expansion -- not only in Cape Girardeau but 14 other communities throughout Missouri.

What the bank offered also grew: a title-insurance company, a wealth-management and investment-services division and an independent commercial insurance agency.

"That really is a stark contrast to where we began," Thompson said.

It began when five founding partners opened one banking center in Perryville, Missouri. At the time, it was the only bank in Perry County.

Other banks came along, but the Bank of Perryville remained. The Bank of Missouri now has more than 300 employees across its branches.

Shown is the Bank of Perryville's second locationCourtesy

"We're approaching the 400 benchmark," Thompson said.

Several of those employees have been with the company for more than 40 years. Thompson estimated 30 percent to 40 percent of Bank of Missouri employees are past the 20-year mark. This will soon include Thompson, who is just about to reach his 20-year anniversary.

Thompson praised the bank's employees for their service to the bank and to the community at large.

"Our employees are actively engaged in the community: heading up Optimists clubs, school boards, church groups. That list is absolutely incredible," Thompson said. "I think it's unmatched by any organization I know. We nurture that kind of activity and encourage it, but mostly, [the employees] are just engaged in our communities."

Toward the end of a weeklong celebration that included ceremonial ribbon cuttings, fireworks and an open house, Thompson mused over what the founders would think of what has become of the bank they started so long ago.

Shown is the Bank of Perryvillle's third location.Courtesy

"I think they would be very proud of what our team and our shareholders and communities have done to grow the brand of the Bank of Missouri," he said.

Bell ringers to return to Schnucks stores

Salvation Army bell-ringers are returning to Schnucks.

Earlier this year, the grocery chain, which has a location in Cape Girardeau, announced a policy banning solicitors from its property. But in a recent announcement, it stated an exception would be made.

"We are honored to be working again with The Salvation Army to bring support and joy to families in need this holiday season," Todd Schnuck, chairman and CEO of Schnuck Markets, said in a news release.

"In this specific, special case, we acknowledge the great needs of the community and The Salvation Army's unique ability to address these needs and made an exception in our policy to welcome them back -- bells, kettles and all -- and hope the community will contribute to the Salvation Army when they shop at Schnucks."

Gym memberships donated to veterans

Snap Fitness Cape Girardeau is donating five one-year gym memberships to be given to veterans through Lift for the 22 in honor of Veterans Day.

Lift for the 22 is a not-for-profit organization that provides gym memberships to veterans. Its mission is to use health and fitness to prevent veteran suicides.

Any veteran with an honorable discharge can apply for these memberships at LiftForThe22.org.

Reed's Metals to toast contractors Friday

Reed's Metals of Scott City will host a Contractor Appreciation Day from 7 to 9 a.m. Friday.

All contractors, installers, architects and engineers are welcome to come and enjoy free coffee and doughnuts.

Reed's Metals will have prize giveaways and special discounts. It also will give away a hunting blind at the end of the event.

The raffle is open to the community, and tickets can be purchased at the store at 1616 East Outer Road in Scott City. Tickets also can be purchased at (573) 803-4700.

The corporation also intends to give away a free metal roof to one deserving family this Christmas. Applications will be accepted at reedsmetals.com.

Saint Francis earns strong bond ratings

Saint Francis Healthcare System's most recent bond issues received strong ratings from two independent rating agencies.

Fitch Ratings assigned a AA- rating to about $35 million of series 2016 bonds expected from the Industrial Development Authority of the County of Cape Girardeau on behalf of Saint Francis Healthcare System. The series 2016 bonds are expected to be fixed-rate bonds.

Fitch also has affirmed an AA- rating on about $184.4 million of revenue bonds issued through the authority.

S&P Global Ratings assigned its A+ long-term rating on the series 2016 health-facilities revenue bonds to be issued for Saint Francis Medical Center and affirmed its A+ long-term rating on the authority's series 2009A and 2013A bonds.

The rating assignment is based on factors such as Saint Francis Healthcare System's operating profitability, liquidity, manageable debt burden and completion of a new patient tower.

"The A+ rating reflects our view of Saint Francis' dominant position in its overall service area, history of healthy operations that have generated robust maximum annual debt service coverage and excellent cash on hand," S& P analyst Brian Williamson stated in a news release.

Miller Drywall earns industry honor

Miller Drywall in Scott City received the Association of the Wall and Ceiling Industry's 2016 Excellence in Construction Quality Award for its work on the Farmington New Public Library in Farmington, Missouri.

On its website, the association praised the unique structural elements Miller Drywall featured inside and outside of the Farmington New Public Library.

Outside, 7,500 individual components framed the exterior: 320 trusses and bent fascia, arched and radiused windows and reinforced concrete columns color-matched to the stone sills above them.

Inside, the library has hand-built library book features made of studs and drywall and 2,600 linear feet of a variety of soffits.

Miller Drywall also created drywall with a "panel" look using 4,000 linear feet of trims, according to the association's website.

To install the ceiling, 13,400 square feet of ceiling tile, 264 lineal feet of flex wall angle and 180 lineal feet of curved axiom and grid were used. All wood elements used were built by hand.

"This is a job that forced Miller Drywall to think outside the box, and for their success, they now not only have a standout project in their portfolio, they have an award," the association stated on its website.

Miller Drywall Inc. acknowledged project manager Richard Kramer and foreman Aaron Ward for their work on the project.

bbrown@semissourian.com

(573) 388-3630