The Bank of Missouri leans on tradition, plans for future

Did you know?

The Bank of Missouri has had just one name change in 118 years.

In an environment where many people keep cars longer than financial institutions keep names, The Bank of Missouri prides itself on tradition and stability.

"In 118 years, we have changed our name one time. We are sorry for the inconvenience," joked John M. Thompson, president of The Bank of Missouri.

The bank offers traditional banking products and services such as deposits, loans, trust services and investments and retirement planning at its 13 branches, nine of which are in Southeast Missouri. The bank has area facilities in Cape Girardeau, Jackson, Perryville and Marble Hill. Other locations include Columbia, Springfield, Republic and Ozark.

Bank of Missouri

Thompson said that the bank's commitment to the communities in which their branches are located has resulted in a very loyal base of customers, who he credits for the success of The Bank of Missouri.

"Our staff members are very involved in their local communities, such as churches, schools and civic organizations," Thompson explained. "Our success is due to our dedicated staff and our loyal customers."

In other words, "Our Hometown Commitment To You" isn't just The Bank of Missouri's advertising slogan, it's their business philosophy.

Those loyal customers have been key to the stability of the bank during a period when the banking industry in general struggled.

That customer loyalty was also reflected in The Bank of Missouri's selection as the No. 1 bank in Cape Girardeau County in the 2009 Southeast Missourian's Peoples Choice Awards.

Bank of Missouri

"Given the economic landscape, we are pleased with our financial results, which in the end, is a real tribute to our customers," said Thompson.

Although the bank's business philosophy remains rooted in tradition and stability, that doesn't mean The Bank of Missouri isn't on the cutting edge of new technology in the financial industry.

The coming year will see the bank making a large investment in a state-of-the-art technology and operations center, to be constructed on the existing campus of the banking center in Perryville at the intersection of Highway 51 and U.S. 61. Thompson said the new center will provide the ability to strategically support the existing banking centers, and any growth well into the future.

"We are extremely excited about this new construction project, and its support of our anticipated future growth," Thompson said.

Thompson said he is confident that the bank's growth will result in an additional 8-10 jobs created in the bank's network.

While no new banking center openings are on the horizon, Thompson said that the bank will continue to invest in new technology, products, and services to accommodate our existing customers, and to attract new customers. That commitment in the past has brought customer innovations such as Remote Deposit Capture, mobile banking, on-line bill pay, and Certificate of Deposit Account Registry Services (CDARS).

"We are always looking for those products and services to benefit our customers," said Thompson.