PSB Bank Completes Operational Merger with Bank Star
MILAN, Mo. — PSB Bank completed its operational merger with Bank Star on July 11, marking the final phase of the acquisition and moving Bank Star customers onto the PSB Bank operating system.
The change affects a substantial number of customers in Sullivan County who previously banked with Bank Star. According to the company, customers were transitioned to PSB Bank’s platform during the weekend following several months of planning, system testing and coordination between employees of both banks. The company reported minimal disruption during the conversion.
PSB Bank is the surviving institution following the merger. The combined bank now reports more than $1 billion in assets and an expanded network of banking centers across Missouri.
Bank officials said the merger expands the institution’s ability to offer commercial, agricultural, mortgage, consumer and treasury management services. The company also said lending decisions will continue to be made locally.
PSB Bank President and CEO Mark Laune said the merger combines the resources and employees of both institutions while increasing the bank’s financial capacity and range of services.
The bank said employees from both organizations worked through the conversion process and that former Bank Star customers and employees are now part of PSB Bank.
PSB Bank is a subsidiary of Rhineland Bancshares Inc. and provides commercial, agricultural, mortgage, consumer, treasury management and digital banking services to individuals, businesses, agricultural producers and municipalities in Missouri.
