Midwest BankCentre Makes History in Pagedale, Mo.; Opens City’s First-Ever Full-Service Bank
ST. LOUIS, MO. (November 16, 2012) – On November 15, 2012, dozens of elected officials, community leaders, and residents witnessed history being made in the city of Pagedale, Mo. as Midwest BankCentre (MBC) officially opened the city’s first full-service bank during a ribbon-cutting ceremony at 6810 Page Ave. (a ribbon-cutting photo is here: http://bit.ly/Sv3qoc). At 29 percent, the St. Louis metro area, including Pagedale, has the third highest percentage of unbanked African-American households in the nation, according to a 2011 survey by the Federal Deposit Insurance Corporation (FDIC). With MBC’s new Pagedale branch, the city now has an award-winning bank that will provide a full range of financial services to residents and business owners who previously did not have quality banking options. No longer will they have to rely on costly alternatives to cash checks or to take out loans. “This is a great day for the city of Pagedale,” said Pagedale Mayor Mary Louise Carter. “It’s wonderful to have a bank. This means convenience for our residents because they can now bank right in their own city at a financial institution with a long history of excellent service.”
With more than $1 billion in assets, MBC is one of the largest privately-held community banks in St. Louis. As a community bank, all of its decisions are made at the local level. MBC’s Pagedale branch will be located inside the new Rosie Shields Manor Senior Living Facility and employ a team of five. Besides offering checking and savings accounts, business cash management, mortgage lending and wealth management with personalized one-on-one service, MBC will provide free monthly financial education workshops on topics such as budgeting, managing and repairing credit, paying for college and cars, and more. “Since we began in 1906, our goal has always been to help strengthen communities, to help make others successful,” said MBC Chairman Ron Barnes. “This tradition will continue at our Pagedale branch.”
The opening of the Pagedale branch is part of Beyond Housing’s “24:1 Initiative,” a comprehensive community development model for residents and businesses in the 24 municipalities within the Normandy School District.
Since 2001, MBC has consistently achieved the prestigious Bauer Financial 5-Star Superior financial rating for financial strength and stability. The bank also has received the Better Business Bureau Torch Award for ethical business practices. Earlier this year, the Small Business Administration of Eastern Missouri recognized MBC as a Top 10 Community Bank Lender.