FOR IMMEDIATE RELEASE
Royal Bancshares Inc. announces purchase of Saints Avenue Bancshares, Inc.
Royal Bancshares Inc., announced the company completed the purchase of Saints Avenue Bancshares Inc., and its banking subsidiary Saints Avenue Bank. Saints Avenue Bank maintained offices in St. Charles, New London, Center and Hannibal Missouri. The transaction increases Royal Banks to 17 full and limited service offices throughout eastern Missouri and Southern Illinois. Mitchell Baden, President and Chief Executive Officer, said, “This purchase brings together two well managed companies with a focus on true community banking! We are very proud of our community based values and roots. We are excited to welcome our new clients in Ralls County and Hannibal.”
Saints Avenue Bancshares, which held $120 million in deposits and $85 million in loans, was led by Richard (Chuck) Leuck. Leuck noted “The enhanced platform provides a strong foundation to serve privately held businesses with lending and treasury services.” The combination of the banks will occur July 30th and conversion of core data processing systems in mid-January. The combined banks will have total assets over $1 billion and loans of approximately $700 million.
Baden added, “Most importantly, this acquisition brings together two exceptional financial institutions with a team of financial professionals unmatched in our markets. We will retain all the Saints Avenue staff. They truly complement our Royal team. This transaction was a team effort from the beginning. Not only has Chuck and his team worked closely with Royal but we have also been guided through the process by our counsel Paul Cambridge of Armstrong Teasdale.” Saints Avenue Bancshares was represented by Carmody MacDonald PC.
To learn more about Royal Banks of Missouri please visit our website- www.royalbanksofmo.com. Royal Banks of Missouri is the banking subsidiary of Royal Bancshares Inc. (RBI). RBI is a $1,035 million financial services company that currently operates throughout eastern Missouri and Southern Illinois. For more information, please contact Mitchell P. Baden at (314) 212-1656.
FOR IMMEDIATE RELEASE
Royal Bancshares Inc. announces expansion into Northern Missouri
Royal Bancshares Inc., announced today that the company has entered into an agreement to acquire Saints Avenue Bancshares Inc., and its banking subsidiary Saints Avenue Bank. The purchase will be an all cash transaction. Saints Avenue Bank maintains offices in St. Charles, New London, Center, and Hannibal Missouri. The transaction will increase Royal Banks to 17 full and limited service offices throughout eastern Missouri and Southern Illinois. Mitchell Baden, President and Chief Executive Officer, said, “We are excited to bring together two progressive and well managed companies. We are very proud of our community bank roots and I am certain our growth in the northern Missouri communities will be a great fit for our company!”
Saints Avenue Bancshares holds $110 million in deposits and $85 million in loans. Saints Avenue Bank is led by President and Chief Executive Officer Richard (Chuck) Leuck. “This acquisition is strategic as it accelerates the growth of business banking and treasury services for the combined organizations. Our team is excited about the philosophical fit and focus on community banking—a hallmark of both institutions.” Leuck said.
“Chuck and his team are what makes this opportunity so attractive.” Baden further, explained, “We plan to retain all the Saints Avenue staff. They will truly complement our Royal team.”
The transaction requires the approval of the FDIC, the Missouri Division of Finance, and the Federal Reserve. Baden said “we hope to close the purchase late in the second quarter or early in the third quarter. This transaction has been a team effort from the beginning. Not only has Chuck and his team worked closely with Royal but also we have been guided through the process by our counsel Paul Cambridge of Armstrong Teasdale.” Saints Avenue Bancshares has been represented by Carmody MacDonald PC.
FOR IMMEDIATE RELEASE
Royal Banks of Missouri has announced the following promotions:
Mark Baden – Vice President, Commercial Relationship Manager
Mark Baden began at Royal Banks of Missouri as a Teller in August 2004. Since then, he has served in various roles before being promoted to Vice President, Commercial Relationship Manager in 2021. Mark works throughout the St. Louis region and is located in our St. Charles branch. Mark specializes in Commercial Real Estate Lending, Commercial Construction Loans, Equipment Financing, and Commercial Lines of Credit.
Contact Mark at Mark.Baden@royalbanksnet.com or (314) 212-1635.
Jackie Gates – Vice President, Commercial Relationship Manager
Jackie Gates began her banking career as a credit analyst in 2013 and has been at Royal Banks of Missouri since 2016. Jackie supports companies in the St. Louis area with financial backing for growth while maintaining existing relationships. Her focus is on the Bank’s commercial and industrial lending portfolio as well as commercial real estate lending.
Contact Jackie at Jackie.Gates@royalbanksnet.com or (314) 212-1549.
Josh James – Consumer Lending Officer
Josh began working at Royal Banks in 2011. Having worked as a teller, in loan servicing, and now as Consumer Loan Officer, Josh has a well-rounded view of the lending process. Josh’s focus is on consumer lending including home equities, auto loans, mortgages, and personal loans.
Contact Josh at Joshua.James@royalbanksnet.com or (314) 212-1679.
Mitchell Baden, President and CEO of Royal Banks of Missouri, noted “All three of these promotions came about through the continued dedication and exemplary work of these individuals. At Royal Banks, we pride ourselves on providing our employees with the tools and opportunities they need to grow within our organization. Jackie, Mark, and Josh have all risen through the ranks at Royal and we are excited to see their continued success within their new roles.”
Steven Silver, Senior Lender & Senior Vice President, added “Mark, Jackie, and Josh have built their portfolios by building and maintaining relationships with their clients. Because of these strong client relationships, our team is able to advise clients on the best lending options for their businesses because they know their client’s businesses.”
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