Montgomery Bank to purchase St. Louis-based MVB

Montgomery Bank, based in Sikeston, Missouri, is acquiring family-owned Meramec Valley Bank of St. Louis County, adding MVB's two branches to the 10 already owned by Montgomery in Cape Girardeau, Jackson, Dexter, Bridgeton, Chesterfield, Des Peres, St. Louis, Webster Groves and Sikeston.

According to Montgomery's CEO Kenneth A. Witbrodt Jr., the plan is to fully merge MVB's $150 million in assets and 27 employees into Montgomery Bank, also a multi-generational family-owned financial institution, no later than Sept. 30.

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