Guaranty Bank and Hometown Bank Complete Conversion Process
All seven former Hometown Bank locations opened as Guaranty Bank this morning as the two financial institutions completed the customer conversion process, the final step in Guaranty Bank’s acquisition of Carthage-based Hometown Bank.
“We are extremely honored to welcome the customers and employees of Hometown to Guaranty,” said Shaun Burke, president and CEO of Springfield-based Guaranty Bank. “Hometown and Guaranty were built based upon their communities’ needs for a bank that could deliver local, customized financial products and solutions and we’re thrilled to continue doing just that.”
The conversion expands Guaranty Bank’s footprint in Jasper and Newton counties with two new banking centers in Joplin, two in Carthage and one each in Neosho, Oronogo and Pineville. The bank now operates 18 banking centers in Greene, Christian, Jasper, McDonald and Newton counties as well as a loan production office in Webster County. Guaranty Bank will also open a new, previously planned banking center at 20th and Range Line in June, creating three Joplin banking centers by the end of the month.
“We are excited to welcome our new customers to Guaranty Bank and equally as excited to offer expanded access to our existing Guaranty Bank customers in Southwest Missouri,” said Guaranty Bank Joplin Region President Jeff Williams. “Hometown Bank’s commitment and support of the communities it has served for 20 years will be carried on with a new enthusiasm and dedication.”
Guaranty Federal Bancshares, Inc., the holding company for Guaranty Bank, announced the acquisition of Hometown Bancshares, Inc., the holding company for Hometown Bank, in December, 2017 and completed the acquisition on April 2. The finalization of the customer conversion process brings Guaranty Bank’s approximate asset total up to $980 million.
“This is an exciting time for both Guaranty Bank and Hometown Bank,” said Will Cologna, product solutions vice president and project manager for Guaranty Bank’s conversion of Hometown’s customers. “The efforts by employees from both banks to make this transition as smooth as possible is a testament to their dedication to provide the best service possible to our customers.”