AMERIFIRST, BANK OF SIKESTON TO MERGE HERE

AmeriFirst Bank has filed an application with the Federal Deposit Insurance Corporation to merge Amerifirst Bank into the Bank of Sikeston.

The proposal will involve the two wholly-owned subsidiary banks of AmeriFirst Bancorporation Inc., explained Donald L. Harrison, chairman of the board at AmerifFirst Bank of Cape Girardeau, and Robert S. Matthews, chairman of the board at Bank of Sikeston, who announced the proposal. They said no ownership change will be involved.

"The merger enables us to combine our capital base, which expands our lending capabilities along with promoting operational efficiency," said Richard Adams, president and chief executive officer of AmeriFirst Bancorporation Inc. "The only real change is the combined bank will be named AmeriFirst Bank."

Adams said: "There has been a tremendous change in the finance industry during the past five years. This merger enables our company to be positioned for future financial opportunities."

The Bank of Sikeston was established in 1887, and currently operates in two facilities at Sikeston. AmeriFirst Bank of Cape Girardeau opened in May 1990 at Route K and St. Francis Drive.

Bank officials said they anticipate the merger application process will be completed in April.