A Missouri-based banking company with deep local roots has officially expanded its footprint in the St. Louis region.
Reliable Community Bancshares, Inc., the parent company of The Bank of Missouri, has completed its acquisition of M1 Bancshares, Inc., the holding company of M1 Bank. The transaction closed Feb. 2 after receiving all required regulatory and corporate approvals.
As a result of the merger, M1 Bank becomes part of Reliable Community Bancshares, strengthening community banking services and lending resources across the St. Louis metropolitan area.
The Bank of Missouri currently holds approximately $3.1 billion in total assets, while M1 Bank holds about $1.14 billion. Together, the combined organization will manage roughly $4.2 billion in assets, significantly expanding its scale and capacity to serve customers.
For now, M1 Bank will continue operating as a separate institution. Reliable Community Bancshares said M1 Bank will remain under its current name until the two banks’ systems can be integrated at a later date. At that point, M1 Bank will be merged into The Bank of Missouri.
During the transition, customers of both banks are expected to see expanded access to financial services, including a broader national ATM network through Allpoint and additional branch locations throughout Missouri. Bank officials emphasized that customers will continue working with the same local bankers they already know.
“Today is an exciting milestone,” said Adrian Breen, president of Reliable Community Bancshares and chairman, president and CEO of The Bank of Missouri. “M1 Bank has built a strong reputation for purpose-driven community banking, particularly in business lending and community development. We are proud to welcome their customers and team into our banking family.”
According to Breen, M1 Bank brings particular expertise in community development lending, including affordable housing, renewable energy financing, and impact-focused projects. That experience is expected to complement The Bank of Missouri’s 135-year history of serving communities across the state.
“We are thrilled to join an organization that shares our mission and values,” said Ken Poteet, retiring chairman, CEO and founder of M1 Bank. “Our customers will continue working with the same bankers they trust, now supported by the additional resources and technology of The Bank of Missouri.”
Bank officials said customers do not need to take any action at this time. All M1 Bank locations will continue normal operations, and customers will receive advance notice of any future changes as systems and services are integrated.
