Approved by the respective boards of directors, the merger is subject to regulatory approval but the transaction is expected to be completed during April 2018, according to a joint press release from the banks.

OakStar Bank and First National Bank have announced a strategic merger of banking operations.

Approved by the respective boards of directors, the merger is subject to regulatory approval but the transaction is expected to be completed during April 2018, according to a joint press release from the banks.

“We are pleased to announce the merger of First National Bank with OakStar Bank. When our board made the decision to partner with another financial institution, we evaluated many viable opportunities. OakStar Bank clearly stood out as the best fit for our associates, customers and communities we serve. Their extraordinary commitment to our associates and customers played a significant role in the selection process of OakStar Bank. We are excited about our future together,” said First National Bank Chairman John Blair.

The merged institution will hold over $950 million in assets, have 13 full service branch locations plus a mortgage office in Kansas City, loan production offices in Kansas City and Joplin and approximately 260 team members, the press release stated.

OakStar Bank President and CEO Randy Johnson commented, “We are excited to continue the tradition of community banking established by First National Bank in Camdenton, Osage Beach, Sunrise Beach and Lake Ozark. Joining forces positions OakStar Bank as one of the strongest community in Missouri. We are excited about this partnership with the First National Bank team and are looking forward to the days ahead.

First National Bank opened in 1905 and currently has $194 million in assets. It has 56 team members and operates five full service locations servicing the communities of Camdenton, Osage Beach, Sunrise Beach and Lake Ozark. 

OakStar Bank was formed by 38 local southwest Missouri investors in 2005. OakStar Bank currently has in excess of $700 million in assets and operates community banks in Springfield, Bolivar, Clinton, Macks Creek, Hermitage, Urbana and Buffalo. OakStar also operates a mortgage lending center in Kansas City and loan production offices in Kansas City and Joplin. The focus of this group is to create a unique banking experience centered on service and local decision-making, the press release states.