Limbaugh promoted; local bank leader sets course for company's continued growth

By SCOTT MOYERS

Southeast Missourian

Montgomery Bank has announced that James P. Limbaugh has been promoted to the newly created position of president of the bank's Commercial Banking Division. Limbaugh will be responsible for the management of the commercial lending activities for the entire bank. He has served in various capacities at Montgomery Bank since 2000.

In addition to the Limbaugh promotion, Montgomery Bank announced other key leadership changes. Joel Montgomery Sr. has announced his retirement as chairman of Montgomery Bancorporation Inc., the parent company of Montgomery Bank. Succeeding Montgomery as chairman of Montgomery Bancorporation Inc. will be Troy Wilson, the current chief executive officer of Montgomery Bank. Replacing Wilson as the chief executive officer of Montgomery Bank will be Kenneth A. Witbrodt Jr.

Richard Montgomery remains chairman of Montgomery Bank.

This transition provides continuity of the Montgomery family's leadership and ownership, which has been in place for almost 50 years.

Wilson has been president and chief executive officer of Montgomery Bank since 1988. Under his leadership, the bank's assets have grown from $59 million to more than $900 million. During this same time, the bank extended its reach from Southeast Missouri into St. Louis and Southwest Florida. There are currently 16 locations with more planned. The bank is one of the largest privately held, family-owned banks in the Midwest. It employs more than 220 people.