Saints Avenue Bancshares Completes Merger with New London Bancshares
ST. LOUIS, May 7, 2020 /PRNewswire/ -- Saints Avenue Bancshares, a St. Charles-based bank holding company, announced the completion of its merger with New London Bancshares, a third- generation family owned community bank located in New London, MO.
Saints Avenue Bancshares was incorporated in June 2016 to accelerate the growth of New London Bancshares and its wholly owned subsidiary, RCSBank. Saints Avenue Bancshare's business strategy emphasizes a strong digital distribution channel, limited investment in traditional bricks and mortar, and attention to high growth markets.
New London Bancshares was owned by the Behrens Family who operated three bank locations in Northeast Missouri (New London, Hannibal and Center). New London Bancshares expanded into the St. Charles County market in May 2017 through the partnership with Saints Avenue Bancshares. With the market entrance, the company rebranded the bank to Saints Avenue Bank.
Saints Avenue Bank, a $100M business-oriented community bank, has experienced record growth the past three years. The bank is led by long-time St. Louis banking executive, Richard (Chuck) Leuck. Leuck led the organization through double-digit annualized asset growth by retooling the bank to serve the financial needs of family-owned businesses and their owner families. This included elevating its commercial lending and treasury management capabilities and overhauling its digital delivery channel.
"We were able to remotely stand-up our entire bank's operations in a matter of days after the Governor announced his shelter in place order," stated Chairman James R. Behrens. "The ability to scale our investment in technology has given us a competitive advantage against institutions much larger than us." Behrens further stated, "The bank was able to timely process every application in the SBA and Department of Treasury Paycheck Protection Program. None of this would have happened three years ago."
About Saints Avenue Bank
Saints Avenue Bank is a $100M community bank that serves the financial needs of family-owned businesses in the Northeast Missouri Market. The bank brings a unique mix of a consultative engagement with a high-touch, technology-enabled service model. Saints Avenue Bank has operations in St. Charles, New London, Hannibal, and Center, Missouri. For more information, visit www.saintsavenuebank.com.
MEDIA CONTACT
Saints Avenue Bank
Chuck Leuck
314-341-3904
[email protected]
SOURCE Saints Avenue Bank
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