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PRESS RELEASE

Royal Bancshares Inc. announces expansion into Illinois
Date: February 24, 2020
Location: St. Louis

 

FOR IMMEDIATE RELEASE

Royal Banks of Missouri, today, announced the acquisition of two banking offices from First Bank. The offices are located in Granite City and Jerseyville, Illinois. The transaction will increase Royal Banks to 13 full and limited service offices throughout Eastern Missouri and Southern Illinois. Mitchell Baden, President and Chief Executive Officer, said, “We are excited to become a part of these two wonderful communities. We are very proud of our community bank roots and I think Granite City and Jerseyville will both be a great fit for our bank!”

The transaction requires the approval of the FDIC, the Missouri Division of Finance and the Illinois Division of Banking. Baden said “We hope to close the purchase in the third quarter.”

Royal Banks of Missouri is the banking subsidiary of Royal Bancshares Inc. (RBI). RBI is a $700 million financial services company that currently operates throughout the St. Louis Metropolitan area.

For more information, please contact Mitchell P. Baden at (314) 212-1656.

 

 

PRESS RELEASE

Royal Bancshares Inc. announces change in Senior Management
Date: January 23, 2020

FOR IMMEDIATE RELEASE

 

Royal Bancshares, Inc. today announced the retirement of longtime President and Chief Executive Officer, Stephen A. Baden. Mitchell Baden will assume the role of President and Chief Executive Officer at both the bank holding company and its subsidiary, Royal Banks of Missouri.

Steve Baden commented, “I started at Royal 22 years ago, and have been privileged to be the CEO for 21 of those years. It has been my honor to represent our staff and the Board of Directors. I believe strongly in the three principles that I have tried to run the Bank by: follow the law, make a profit, and treat people the way you would like your children treated. I always tried to manage the Bank with those principals in mind. Retiring was a difficult decision, but I’m confident in the management group. I know the Royal team will give Mitch the same support that I was given.”

Mitch Baden said “It is a bittersweet time for me. I am excited to have the opportunity our Board of Directors has afforded me but my best friend and mentor is leaving. Steve’s vision and strong moral fiber guided our company to extraordinary growth in not only size but earnings. I know I cannot replace Steve but I will do everything in my power to continue the legacy of excellence Steve and, our founder, Tom Green established. I’m proud to lead our team as we begin a new decade.” Mitch commented further, “We learned of Steve’s plan to retire earlier this year and are now confident that we will be able to transition very smoothly.”

The company also announced the addition of Scott Sciortino as Senior Vice President and Chief Financial Officer. Mitch Baden said “the addition of Scott brings valuable banking and non-banking experience to our management team. Scott is a strong leader with wonderful financial skills. He brings new and creative ideas to our company. I’m excited to see Scott develop these ideas and bring them to fruition!”

Royal Banks of Missouri is the banking subsidiary of Royal Bancshares Inc. (RBI). RBI is a $700 million financial services company that currently operates throughout the St. Louis Metropolitan area.

 

 

Client Notice of Branch Office Closing

April 5, 2019

Dear Valued Client;

After a comprehensive study of all our branches daily transactions, the Bank’s management has decided to close our Frontenac Office at 801. S. Lindbergh, Saint Louis, Missouri, 63131. The lobby will close as of Friday, July 5, 2019*, however the Interactive Teller Machine (ITM) will be available to process your teller and ATM Transaction until Friday, August 23, 2019

*The original notice stated May 31, 2019.  Please note that as of June 1, 2019 the Frontenac Office will have NEW LIMITED HOURS.   The Branch will be open Monday thru Saturday 9:00am to 12:00pm.

All services offered at the Frontenac Office will available to you at the following offices:

 

8021 Olive Blvd, University City, Missouri 63130 – 11 Minute Drive

7701 Delmar Blvd, University City, Missouri 63130 – 9 Minute Drive

13171 Olive Blvd, Creve Coeur, Missouri 63141 – 12 Minute Drive

9990 Manchester Road, Glendale, Missouri 63122 – 8 Minute Drive

301 N. Kirkwood Road, Kirkwood, Missouri 63122 – 8 Minute Drive*

*Kirkwood Lobby is closed on Saturdays

 

If you currently have a safe deposit box at the Frontenac Office, the Bank plans to relocate your box to our 301 N. Kirkwood Road Office on Tuesday, July 8, 2019. Please contact a Relationship Banker at the Frontenac Office for more details.

The Bank’s management regrets any inconvenience this branch closing may have on you. We will make every effort to meet all your financial needs during this transition. Also, we encourage you to utilize one of the banking locations provided above.

If you have any questions or concerns, please contact us 314-212-1500.

Thank you for banking with Royal Banks of Missouri.

 

Michael S. Stevenson

Senior Vice President

Senior Retail Banking Officer

 

 

Beneficial Owners

Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats. EACH time an account is opened or modified for a covered Legal Entity we are required to identify and verify business owners. The rule applies to all accounts, including loans.

What is a Beneficial Owner?

  • Each individual who owns 25% or more of the company
  • One individual who has significant managerial responsibility for the company

The rule applies to legal entity businesses such as a corporation, limited liability company, and general partnership, or other entity created by a filing of a public document with a Secretary of State or similar office. A partial list of exempt businesses include:

  • Sole Proprietorships
  • S. and government entities
  • Registered insurance companies
  • Publicly-traded companies and subsidiaries

What You Can Expect
When you open an account, we will ask you to identify the beneficial owners of your company, as defined above. You will need to provide the following for each beneficial owner:

  • Name
  • Date of birth
  • Social Security Number
  • Current home address
  • Phone number
  • Identifying information (driver’s license, passport, etc.)

We appreciate your business and truly apologize for any inconvenience this may cause you now or in the future.

 

 

Royal Banks of Missouri. Investing in St. Louis. One Community at a Time.

This is our 35th year of offering the scholarship based on both academics and activities. This scholarship is available seniors going into college the following year. We received 117 applications this year. We are so happy to announce our winners are:

Emily Davidson- Oakville High School

Colin Gilker- Webster Groves High School

Carolyn Ream- Oakville High School

 

Royal Banks of Missouri Implements Interactive Teller Machines

All Locations Completed – October 23, 2017

 

                           

Royal Banks of Missouri Merges with Frontenac Bank – July 11, 2016