Richmond, Missouri - March 21, 2024 - Flat Branch Home Loans is pleased to announce the acquisition of The State Bank Richmond Missouri by its Chairman and Founder, Jim Yankee. As part of the acquisition, The State Bank will be rebranded as Flat Branch Bank and grow to offer comprehensive financial services to customers and communities throughout the Midwest.
Flat Branch Bank will continue to support the Ray County residents and neighbors that The State Bank has always served. Additionally, Flat Branch Bank will serve as a cornerstone of support for clients, employees, and friends of Flat Branch Home Loans. The bank will offer a wide array of banking services to meet the diverse needs of the changing times.
Flat Branch Bank will maintain its primary office in Richmond, Missouri, while strategically expanding its presence across Ray County, Missouri. The bank will align with the widespread footprint of Flat Branch Home Loans. This expansion aims to enhance accessibility and convenience for customers while fostering deeper connections and the latest technology.
Misti Holloway will maintain her role as President and Wes Parks has joined the leadership team as Vice President.
As of December 31, 2023, The State Bank boasted approximately $35.2 million in assets, $13.2 million in loans, and $32.2 million in deposits. With the rebranding to Flat Branch Bank, these numbers are expected to grow as the bank strengthens its commitment to excellence and expands its range of services.
"We are thrilled to embark on this new chapter as Flat Branch Bank," stated Jim Yankee, Chairman and Founder of Flat Branch Home Loans. "This partnership represents our dedication to providing financial solutions while furthering supporting the communities we serve."
For more information about Flat Branch Bank and its comprehensive banking services, please visit www.flatbranchbank.com. Flat Branch Bank is an Equal Housing Lender.
