Freedom Bank of Southern Missouri merges with Community National Bank

Wednesday, June 17, 2020

Freedom Bank has announced that on Friday, Freedom Bank of Southern Missouri, a Missouri state-chartered bank originating in Cassville, and its parent holding company, Freedom Bancshares of Southern Missouri, Inc. acquired through merger Community National Bank (CNB) located in Monett and Aurora.

The bank locations in Monett and Aurora will become branches of Freedom Bank of Southern Missouri. Freedom Bank has five other bank locations: Cassville, Seligman, Willard, Shell Knob and Golden.

“We are excited to finally bring the two banks together into one strong community bank ready and willing to serve our customers,” said Stan Kelley, president and CEO of Freedom Bank of Southern Missouri. “Most importantly, the staff that is currently at CNB will be retained, and Darrin Newbold will continue to be the president.”

“Merging with a bank that shares our focus on customer relationships will ensure that we can continue to provide the level of customer service that our customers have come to expect, while at the same time assist in the continued growth of the communities we serve,” Newbold said.

Kelley said Freedom Bank is excited to expand to Monett, Aurora and the surrounding communities.

“We value the relationship that CNB has developed with their customers and look forward to serving them in the future with a wide array of services and products that Freedom Bank has to offer,” he said.

Michael Wallace, former Chairman of CNB and now board member of Freedom Bank, said a tremendous amount of effort and thought has been put forth by both banks’ management and board of directors to finally consummate and merge the two banks into one formidable community bank.

“I foresee a bright future for the continued success of Freedom Bank,” he said.

Although the acquisition has been finalized, the two banks’ processing systems do not merge into one until the projected date of Aug. 15. The current CNB customers will continue to use their existing accounts, checks, online & mobile banking, debit/ATM cards, etc. until then.

The CNB customers will be receiving correspondence in the mail during the conversion process and will receive pertinent information about their deposit and loan accounts as they are transitioned into Freedom Bank. Freedom Bank is committed to make the process as streamlined as possible, and customer experience minimal change.

“A new added strength and vigor for Freedom will occur when we combine the talent, experience and knowledge of the associates and investors within the two banks that are coming together as one,” Kelley said. “The mission of Freedom Bank is to provide the superior quality service that an existing or potential new customer expects from a community bank.”

Should a customer have any questions, they may contact any of the seven bank locations.