Business Notebook: John M. Thompson looks back on his career in banking and finance before his retirement later this year

"It's like a changing of the guard," said The Bank of Missouri president John M. Thompson as he strolled through the second-floor hall of the William Street branch in Cape Girardeau, pointing out the offices of executives retiring this year as well. "But it's time for the younger generation to step in."

Thompson is retiring later this year after 20 years with the bank, he said.

He's been in finance much longer, starting out at age 27 in a savings-and-loan operation, but his lifetime has been devoted to family and community, both hugely formative for him.

"A sense of community was instilled in me early," Thompson said, and that fed and nurtured his work in banking. "I believe all of us have a duty to our communities."

Thompson's office is filled with various awards, trophies and recognitions from his community work. He served on the SoutheastHEALTH board, he said, and the Semo Regional Port Authority board, in addition to his work with the Boy Scouts, among others.

John M. Thompson is interviewed in his office with his Chuck Taylor Tuesdays shoes ready Wednesday at The Bank of Missouri in Cape Girardeau.Fred Lynch

He attributes that sense of community to his parents, Billy Joe and Alice Faye Thompson, both from Jackson, and his five siblings.

"My parents left a legacy in a small town, and they were a strong influence on my life," Thompson said.

Thompson's father owned a nursing home in Jackson, and was active in commercial real estate, he said.

Because of that involvement, Thompson knew from an early age he wanted to be involved in finance. He isn't a numbers guy himself, he said, but he does have one skill that has helped him succeed: the ability to build a great team.

"I've worked with a lot of people over the years, and many of them have gone on to be successful," Thompson said. "That's been great."

John M. Thompson talks about his career with The Bank of Missouri on Wednesday in Cape Girardeau.Fred Lynch

The Bank of Missouri now has 35 locations across the state, which has happened through acquisitions and organic growth, Thompson said.

"We're very pleased to have outstanding people," he said, referring both to his team members and customers. "At the end of the day, it's about relationships."

It's been intentional on the part of The Bank of Missouri, Thompson said, to grow relationships locally rather than globally.

That part of the industry hasn't changed for him, he said, but he has seen a lot of other changes.

"Regulatory burden is definitely greater than it was when I started," he said, and that's had its disadvantages, in that a handshake is no longer the only security needed on a loan, for instance.

"It has allowed us some growth because others said, 'We can't go on,'" Thompson said.

Another change is the different delivery methods available now as opposed to 20 years ago, he said.

"There's a convenience factor," he said, with debit cards, ATMs, electronic or mobile banking, automatic deposits. "People can even apply for a home loan online," he added.

But people still call in to the call center, to check balances or change passwords, he said.

The biggest change, he said, has been security.

"When I started, cybersecurity wasn't even on our radar," he said. "But now, every bank, every institution carries that risk."

Banks also carry different product lines now, he said, and it was a natural step into insurance and securities from banking products.

"It's a perfect fit for us," Thompson said.

Convenience and confideniality, Thompson said, mean something different to every customer, and that's where the sense of community comes in. Knowing people and what they want is vital, he said.

"It's been a great ride," Thompson said.

Jack in the Box not coming to Cape anytime soon

Contrary to social-media rumors, popular fast-food restaurant Jack in the Box is not planning to open a location in Cape Girardeau in the near future, said company spokesman Brian Luscomb when reached by phone Thursday.

Luscomb said two job postings were listed for positions with Jack In the Box in Cape Girardeau, with an address of 3019 William St. That's also the address for Qdoba, which was owned by the same company as Jack in the Box up until last week, Luscomb said.

"Some online job boards we do not use just scrape postings and aren't terribly accurate," Luscomb said.

Luscomb said he was sorry to report there are no plans to open a Jack in the Box in Cape Girardeau anytime soon, but there would be challenges.

"If it's too far away [from another Jack in the Box], brand awareness might not be there," Luscomb said. "Distribution support and other infrastructure are other considerations. It's not as easy as just dropping a Jack in the Box here, there and everywhere."

According to the Jack in the Box location finder, the nearest Jack in the Box is in Farmington, Missouri, about 80 miles from Cape Girardeau.

The Bank of Missouri merger complete

The Bank of Missouri recently completed its merger with Mid America Bank and Trust Co., according to a company news release. The three branches of the company, in Dixon, Rolla and St. Robert, Missouri, are now officially branches of The Bank of Missouri, which operates 35 banking locations in 25 communities across the state, and employs nearly 500 people statewide. Reliable Community Bancshares Inc., which owns The Bank of Missouri, now has grown its assets size to $1.7 billion.

Delta Cos. acquires plant in Advance

Delta Cos. Inc. recently announced its subsidiaries, Delta Asphalt Inc. and Apex Paving Co., have acquired all of the assets of ASA Asphalt in Advance, Missouri. The acquisition includes the asphalt plant and other related manufacturing and construction assets, and will enhance Delta's overall manufacturing and construction capabilities in Missouri, as well as provide additional opportunities for Delta to better serve its customers, according to the announcement.

Scott City Chamber of Commerce has new website

The Scott City Chamber of Commerce recently rolled out its new website at scottcitymochamber.org. Calendar events, member pages and more are online there.

Ribbon cuttings

The Safe House for Women will hold a ceremonial groundbreaking at 2 p.m. Friday in Cape County Park North. This event will celebrate the new shelter.

Business licenses

Lauren Irey applied for a license to operate Lauren Ashley Photography at 635 Broadway in Cape Girardeau.

mniederkorn@semissourian.com

(573) 388-3630