Missouri bank opens LPO in Fayetteville

by Paul Gatling ([email protected]) 1,107 views 

Gainesville, Mo.-based Century Bank of the Ozarks (CBO) opened a loan production office (LPO) in downtown Fayetteville in August. The company’s office is at 1 E. Center St. inside the Pryor Center.

Alex Martin is CBO’s lone employee at the Fayetteville office. He worked previously as a commercial loan officer for Great Southern Bank in Rogers.

“Since our founding in 1894, we have served families and communities across the Ozarks, and are thrilled to continue this tradition in Fayetteville and beyond,” Martin said in a statement. “There is a lot of excitement around the rapid growth in this region and we are excited to take part in it.

“Our new LPO is an exciting step for us as we look to carve out a niche and succeed in this highly competitive market.”

The bank’s Fayetteville LPO is its second Arkansas location. CBO has four full-service locations in Missouri: Ava, Bakersfield, Gainesville and Theodosia. There’s also an Arkansas branch in Mountain Home, which opened earlier this year.

According to the FDIC, CBO was chartered in 1894 as Bank of Gainesville. The private bank changed its name to Century Bank of the Ozarks in 1996.

As of June 30, the bank had assets of $239.6 million, up 38% from the same date five years ago.

CBO is a subsidiary of the holding company Century Bancshares Inc. (CBI). CBI also owns Rogersville, Mo.-based Legacy Bank & Trust Co.