SIKESTON BANK PLANS $5 MILLION COMPLEX

SIKESTON -- Construction of a $5 million bank and office building was announced Wednesday by First National Bank of Sikeston.

"We need to start and recommit ourselves to a growing community to best serve the interests of the people. As part our commitment to continuing leadership we are proud to announce plans to construct a new bank and office building," said Joel Montgomery, chairman of the Board of the First National Bank at a press conference Wednesday.

The bank and office building along with a retail center will be built on three and a half acres of land at the intersection of Main Street and Malone Avenue. The 55,000 square foot four-story building will include 30,000 square feet set aside for banking purposes and 25,000 square feet for lease as office space. In addition to the main bank building, a separate 7,500 square foot building will be constructed to be leased for retail use at the west end of the property.

"The new building has become a necessity due to the bank's continued growth and commitment to serve our customers," said Troy Wilson, president and chief executive officer of First National Bank.

Planned enhancements, Wilson said, include faster and more convenient drive-up facilities as well as a safe and secure 24-hour money window.

Construction is expected to begin in mid- to late-summer following approval by federal regulatory authorities. Work should take about a year with an opening date of fall 1992 set by bank officials.

"We are trying to fulfill what we perceive to be a real need at this time," Montgomery added. "We feel that Sikeston hasn't had a real project that would give impetus to bigger and better things since the plower plant."

Montgomery continued: "This is a statement of our confidence in Southeast Missouri. We appreciate the support and confidence our customers have shown to us in the last 36 years. It is our hope that the community will be proud of the new facility and will support us in our decision to invest in Sikeston's future."

The bank began its relationship with the community in 1955 when the current bank was organized as Planter's Bank located on West Malone Avenue. In 1964, the bank's name was changed to the First National Bank and relocated to its present site, 210 S. Kingshighway.

"The continued support of our customers has enabled us to grow into the largest bank in Scott County with assets currently in excess of $135 million," Wilson said. "In addition, we have a very strong capital base of over $10 million and are currently serving three communities: Sikeston, Chaffee and Caruthersville."