FIRST NATIONAL BANK TO OPEN FULL-SERVICE OPERATION MONDAY

First National Bank, a new operation in Cape Girardeau, has selected a banking holiday Columbus Day to introduce its services and new facilities to the public.

"We'll open here officially Monday," said Larry Miller, president of the local First National Bank, located in the former Colonial Federal Savings and Loan building, 2027 Broadway. "But our grand opening activities will be held Oct. 14."

First National Bank purchased the former Colonial building, and filed application for a full-service banking operation in April, marking the second transaction with the Resolution Trust Corporation (RTC) for First National.

The RTC approved the sale of Colonial Savings deposits and assets from the Chaffee and Caruthersville branches to First National in November.

"We have completed some extensive renovations and remodeling, inside and out," said Miller. " "We have completely redone most of the ground-level portion of the building, and have added customer parking in front of the building. Previously, customers had to park in the back of the building."

Miller said commitment to customer service was a primary goal of the new bank.

"We'll be providing a unique new concept," said Miller, "In addition to our teller service, we'll provide customer service officers and representatives.

"The customer will have his choice of visiting the teller booth, or sitting down, one-on-one, with one of the customer service people to conduct their business," he added.

The new Auto Teller Machine (ATM) will be ready for use in the near future.

Colonial Savings and Loan Association, which occupied the building until 1990, operated more than 100 years in Cape Girardeau before the institution joined a growing list of financially-troubled savings and loan facilities that were taken over by the RTC.

In early November last year, the RTC approved the sale of Colonial deposits and assets. Mercantile Bank of Cape Girardeau acquired deposits of about $81.6 million from the Cape Girardeau operation, and First National Bank acquired deposits of approximately $36.7 million from branches at Chaffee and Caruthersville.

The building was not disposed of during that transaction, but was sold to the First National in April.

First National currently has four locations Cape Girardeau, Chaffee, Caruthersville and Sikeston. Recently, the bank started construction of a new 55,000 square foot headquarters building in Sikeston.

First National Bank, a family-owned and operated bank, is in its fourth decade of operation. It opened in 1955 in Sikeston as Planter's Bank, located on West Malone Ave.

In 1964, the bank's name was changed to First National Bank, and the bank relocated to its present location at 210 South Kingshighway in Sikeston.

With its acquisition of Chaffee and Caruthersville deposits last year, the bank is the largest in Scott County with assets currently in excess of $145 million.

The bank is rated as one of the most financially secure and safe banking institutions in the U.S., and is the only bank in Southeast Missouri to receive Verbank's an independent bank research firm Blue Ribbon rating for eight consecutive quarters. The bank has also received a four-star rating from Bauer Reports Incorporated, an independent bank rating firm.

"We're currently serving three communities," said Miller. "And we're certainly looking forward to becoming a permanent part of the Cape Girardeau community. We look forward to a long relationship."

Cape Girardeau already has six banks including: Boatmen's Bank, Southeast Missouri Bank, Mercantile Bank of Cape Girardeau, Exchange Bank, AmeriFirst Bank, and Capital Bank; and two savings and loans Farm & Home Savings Association, and Savings of America.