Freedom Bank, Community National Bank to merge in 2020

Freedom Bank of Southern Missouri announced that it and its parent bank holding company, Freedom Bancshares of Southern Missouri, Inc. have entered into an agreement to merge with Community National Bank, Monett, with Freedom Bank surviving the bank merger. As is customary, the bank merger is subject to regulatory approvals, a vote of Community National Bank’s shareholders, and other conditions precedent.
Upon completion of the bank merger, Freedom Bank will have total assets of approximately $430 Million, deposits of $367 million, and loans totaling $326 million. Community National Bank currently has two locations in Monett and Aurora and will be joining five other current Freedom Bank locations: Cassville, Willard, Shell Knob, Golden and Seligman. Both banks are owned locally by a consortium of investors from mainly the Barry and Lawrence county areas, and their investor groups will be joining efforts to continue to grow the bank and look for future opportunities in the Southwest Missouri area.
Stan Kelley, president and CEO of Freedom Bank, and Darrin Newbold, president and CEO of Community National Bank, will be bringing their combined 70-plus years of banking experience together to continue to enhance their respective markets and bring new products and technology to their customer bases.
The merger process takes time to complete, but should be finalized in second quarter of 2020.


Lawrence County Record

312 S. Hickory St.
Mt. Vernon, MO, 65712


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