Moving on up

Montgomery Bank, headquartered in Sikeston, Mo., plans to build a $100 million 25- to 30-story tower with office, retail and possible hotel or residential space in Clayton, Mo. Construction could start in a 18 months, according to a recent news release from the family-owned bank.

"We think this development will provide a good long-term investment for us," said Joel Montgomery Jr., vice chairman and general counsel.

Since August 2006, the Montgomery family bought several buildings in Clayton to be razed for the construction of the tower, which will have a Montgomery Bank on the ground floor.

Montgomery Bank, one of the largest privately held financial institutions in the region with assets of more than $900 million, has 13 branches in Missouri, plus two locations in south Florida. In Southeast Missouri, the bank has locations in Cape Girardeau, Jackson and Dexter along with Sikeston.

Montgomery Bank will be celebrating its 50th anniversary this year.

• Canedy Sign and Graphics in Sikeston had an open house at its new facility May 11. The business moved into a 15,000-square-foot facility at 18023 U.S. Highway 61 South. The sign company, which now focuses on digital displays, covers a 100-mile radius from its company headquarters.

"The new shop allows us to bring in these large units," said chief financial officer Mike Ketcherside, adding that the company's employees build, install and service any sign.

The sign company also has a vinyl graphics department for creating displays.

Canedy has been in Sikeston for 70 years. The company started out working with neon signs. In 2000, Canedy Sign and Graphics was purchased by D&S Sign Co., which still owns it. The late M.L. Canedy started the business in 1937.

• The owners of Realty Executives, Bill and Susan Cole, moved the Cape Girardeau facility from North Mount Auburn Road to 2511 Independence St. Bill Cole said the real estate company had rapid growth and needed to make an adjustment. The new building is double the size of the old one.

There is also a Realty Executives office in Jackson.

Cole said since he started the business three-and-a-half years ago, he's gone from four agents to 44.

"People hear the crisis of real estate in New York and California," said Cole. "I tell them that the interest rates are low in Missouri. It's a great time to buy."

Tim Krakowiak is the business editor at the Southeast Missourian. Contact him at 301 Broadway, Cape Girardeau, Mo., 63702-0699, tkrakowiak@semissourian.com or (573) 335-6611, extension 137