First Bank announced it has reached an agreement in principal with three different banks to execute the sale of 14 of its branches in predominantly rural markets, including two in Warren County. 

First State Community Bank (FSCB) has agreed to purchase seven Missouri branches located in Warrenton, Dutzow, Washington, Gerald, Owensville, Hermann and St. Genevieve.

First State Community Bank is a subsidiary of First State Bancshares, Inc. based in Farmington. 

First State Community Bank has branches in Warrenton and Wright City. 

“Our team at First State Community Bank is excited about this opportunity,” said Greg Allen, Chairman and CEO of First State Community Bank. “The new locations will be a great complement to our existing branches in the area. Customers will enjoy all that First State Community Bank has to offer, including strong leadership from our local presidents who have experience serving many of the markets.”

The seven First Bank locations, added to First State Community Bank’s existing branches, will expand First State Community Bank’s footprint to 59 locations throughout Missouri. The acquisition is subject to approval by federal and state regulatory bodies and is expected to close in the third quarter of 2020. 

Other banks that First Bank will sell are as follows:

• Royal Banks of Missouri has agreed to purchase two Illinois branches, located in Granite City and Jerseyville.

•  Dieterich Bank has agreed to purchase five Illinois branches, located in Columbia, Red Bud, Chester, Waterloo and Breese.

“The purpose of these sales is to focus our branch network on markets where we have the greatest opportunity to grow and to align our investments with our strategy,” said Shelley Seifert, Chairman and CEO, First Bank.