First State Bank and Trust Co., Inc. to purchase Dexter, MO bank - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

First State Bank and Trust Co., Inc. to purchase Dexter, MO bank

(Source: KFVS) (Source: KFVS)
DEXTER, MO (KFVS) -

Officials with the First State Bank & Trust Company, Inc. announced on Tuesday, September 6 that the company will purchase the Montgomery Bank of Dexter.

Montgomery Bank of Dexter is located at 140 South Walnut in Dexter, and the branch will soon become part of the First State Bank & Trust Company family transitioning into their already established branch in Dexter.

“As President and CEO of First State Bank & Trust Company, I want to be the first to express the company’s excitement about the branch acquisition in Dexter,” Gordon Waller, President and Chief Executive Officer, said. “This addition to our branch family is another example of First State Bank
& Trust Company’s strong growth in the markets we serve and our ongoing commitment to these communities.”

Dexter native and First State Bank & Trust Company’s Community Bank President Kyle Christian said he agrees.

“We are a part of this community, both personal and in business," Christian said. "Both financial institutions pledge to provide customers with ongoing communication, high customer service and as much of a seamless transition as possible during the acquisition phase. It is beneficial to all to have this acquisition occur between two companies who value their customers, their employees and future sustainability.”

Ken Witbrodt, President and Chief Executive Officer of Montgomery Bank, said the decision to sell the branch "is in keeping with our core strategic initiatives, but it is a difficult decision because of the relationships we have made with our customers and employees in Dexter."

"We believe First State Bank and Trust Company can continue the high level of service we provide and add to the relationships we have built in Dexter.”

The sale is expected to be finalized January 2017. More information about the purchase will be forthcoming. The team of First State Bank & Trust Company is ready to answer customer questions as those answers are made available, and are encouraged to visit the Dexter branch on 710 West Business Highway 60.

"We are ready to work together to make this a smooth transition and look forward to offering a new banking home for customers in this market,” Christian said.

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