| Springfield, MO - Springfield Trust and Investment Company and Central Trust & Investment Company have announced an agreement in principal to merge the two companies on or about October 30, 2009. Minimal personnel charges are expected as a result of the merger.
“Central Trust & Investment Company’s similar business model, quality staff, and commitment to its clients are a perfect fit for us and our clients,” said John Courtney, chairman and founder of Springfield Trust & Investment Company. “We will now be able to offer the Springfield, Branson, Lebanon and Lake of the Ozark communities enhanced banking, trust, and investment services as we become affiliated with an outstanding institution such as Central Trust & Investment Company.”
The merger allows Central Trust & Investment Company to better serve the region by expanding its operations in southwest Missouri. Springfield Trust & Investment Company and its approximately $600 million in assets will increase Central Trust & Investment Company’s total assets by more than 20 percent.
“By virtue of this merger, Central Trust & Investment Company continues to invest in the region and reaffirms our commitment to all our clients during what we expect to be a smooth transition,” said Bob Jones, president and CEO of Central Trust & Investment Company. “We will expand on the products and services we offer, including enhanced technology, product, and service choices, and we will be the leading provider of asset management services in the Springfield and Branson markets.” That sentiment was echoed by Bryan Cook, president and CEO of Central Bancompany, Inc., the parent company of Central Trust. “The merger with Springfield Trust significantly boosts our presence in the market,” said Cook. “We look forward to achieving great things there in the future as we combine Central Trust and Springfield Trust, and work with our local affiliates Empire Bank and Ozark Mountain Bank.”
With approximately $3.6 billion in combined client assets Central Trust & Investment Company and Springfield Trust and Investment Company provide investment management, trust, fiduciary and retirement plan services to individuals, charities and businesses. With offices in St. Louis, Kansas City, Columbia, Jefferson City, Springfield, Nixa, Osage Beach, and Branson Springfield Trust and Investment Company and Central Trust & Investment Company employ more than 90 professionals serving high net worth individuals and families.
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