The Story.

First State Community Bank (FSCB) has been a locally-owned, community bank and a Farmington landmark since its grand opening as First State Bank of Farmington on May 9, 1954. During a time when the economy wasn't at its strongest, B.H. Jennings believed Farmington needed a locally-owned bank, so Jennings gathered enough investors to see his dream fulfilled. From that moment, First State Community Bank's history has been a success story.

With a long history of community development and civic involvement, FSCB made a name for itself as the Friendly First and has maintained a tradition of personal service and long-term customer relationships throughout the years.

Originally incorporated as First State Bank of Farmington in July 1953, the Finance Commission of Missouri approved the bank charter in November 1953, with $100,000 of common stock. The bank's first board members were B.H. Jennings (president and chairman of the board), H. Boxdorfer (vice president), C.A. Doubet (secretary), R.E. Adams, A.J. Butterfield, C.B. Denman and C.E. Rozier. When R.E. Adams resigned in November 1956, Clarence Wade joined the board and was an active board participant until 1997 when he became a director emeritus.

Although board meetings were originally held in the dining room at Ozarks Café in downtown Farmington, the group was able to meet in the bank lobby for the first time on June 7, 1954. The bank building, located at 201 East Columbia Street, was designed by B.H. Jennings' son, Harry F. Jennings, an architect.

The bank grew and made itself known throughout the community. In July 1956, it was necessary to hire an executive vice president for the bank, and Grover Jennings accepted the position.

B.H. Jennings saw the need for First State Bank as a community bank in Farmington and successfully operated it until he passed away in November 1963. At that time, H.F. Jennings, was elected president and chairman of the board at the January 1964 board meeting. H.F. Jennings oversaw the continued growth and progress of the bank until he retired in 1980.

William H. (Bill) Cooper, who had served on the board of directors since 1964, purchased control of the bank in 1980 and was elected chairman, the position he still holds today. That same year, Jack Sebastian was appointed president of the bank, (he had previously been appointed executive vice president in 1967), and he remained the president of the bank until he retired in 1994. After Sebastian retired, his son, Matt Sebastian, was appointed president of the bank in Farmington, where he remains today. It was also at this time that Greg Allen was appointed president of First State Bancshares, Inc., the holding company that owns and operates the subsidiary banks.

In July 1968, the board applied for permission to open a facility located at Karsch Boulevard and Washington Street in Farmington. The new facility, opened in March 1970, was a combination drive-up and lobby facility that was open Monday through Saturday. This facility became the site for the town's first "time & temperature" sign.

Under the direction of Cooper and the rest of the management team, the bank's assets continued to grow. Staff and supplies even began to outgrow the bank building itself. The main bank located at 201 E. Columbia Street underwent two major expansions. In 1982, the building size doubled and the drive-up lanes were relocated to the east side of the building. The second expansion was completed in December 1987, when the second floor storage area was converted to office space. Since then, the bank has undergone a number of remodeling projects — moving and adding offices as necessary.

With Cooper at the helm, his vision was to increase the bank’s reach, allowing communities outside the Farmington area to benefit from the friendly service and wide range of products. On March 11, 1984, First State Bancshares, Inc. (FSB) was formed as a one-bank holding company so that additional banks could be purchased. Iron County Security Bank (located on Main Street in Ironton) was purchased in 1987, and it remained a separately-chartered bank within the holding company until January, 1999. The former First Federal Savings of SEMO (located on School Street in Bonne Terre) was purchased from Capital Bank in 1991, and it opened as (and remains) a branch of First State Community Bank. As Farmington 's business sector grew, the bank opened a full-service, free-standing facility in the Maple Valley Shopping Center on August 4, 1992. This facility's transactions steadily increase as the area continues its development.

Although First State Bank was well-known throughout the community, it was not the only First State Bank in Missouri. This name duplication became increasingly confusing as the holding company looked at expansion opportunities. In September 1996, First State Bank of Farmington officially changed its name to First State Community Bank to set itself apart from other First State Banks in the state. The name change also reflected the bank's commitment to the communities it serves, maintaining that each location is a true community bank.

In October 1996, First State Community Bank opened a loan production office in the St. Mary branch of First Financial Bank of Ste. Genevieve County. First State Bancshares, Inc., officially purchased the St. Mary location in January 1997. Immediately following the St. Mary purchase, First State Community Bank opened a temporary banking facility in Perryville in February 1997. Construction began on a permanent location, and the Perryville bank opened at its present address (406 North Perryville Blvd.) in January 1998.

As Chairman of the Board, one of Cooper’s goals was to make non-traditional financial services available to customers so that the bank could eventually become a full-service financial center. In June 1997, First State Community Bank entered into an agreement with Farmington-based Conservative Financial Services, Inc. (CFS) to provide investment services in the banks.

First State Community Bank purchased Joachim Federal Savings & Loan in DeSoto on June 12, 1998, and on June 22, 1998, the bank officially opened its full-service Park Hills facility. First State Bancshares continued its expansion into southeast Missouri by purchasing three branches from Mercantile Bank of Southeast Missouri in Malden, Portageville and Hayti on November 20, 1998.

In January 1999, Iron County Security Bank, (already owned by First State Bancshares), was merged into First State Community Bank. On March 10, 2000, the Portageville branch of First Commercial Bank was purchased and converted into a First State Community Bank. FSCB's leased location closed on March 9 in Portageville and reopened on March 10 in the beautiful new location at 801 Hwy. 61 North.

On August 29, 2000, the bank purchased Landrum Insurance Agency, a full-service insurance provider, as a subsidiary of the bank. This independent insurance agency is able to shop a variety of companies, allowing the agency to tailor insurance packages to meet customer needs for auto, home, life, health and business insurance.

On September 8, 2000, First State Community Bank purchased the Malden branch of Southern Missouri Bank and Trust. The Southern Missouri Bank and Trust location was closed at 100 S. Madison and both Malden locations were moved to a newly-constructed building at 1214 North Douglass.

First State Community Bank purchased the Fredericktown branch of Commerce Bank on November 20, 2000, adding another convenient location for customers.

The bank continued its growth in the insurance business by purchasing the assets of the Wilkinson Insurance Agency in Ironton on June 12, 2001.

After a four-year relationship with Conservative Financial Services (CFS), First State Bancshares purchased the company as a subsidiary and separate corporation on June 20, 2001. With this purchase, First State Community Bank truly made the leap from being a bank to becoming a one-stop financial center, as Cooper dreamed it would be. Bank employees with the proper licensing are able to help customers who wish to purchase mutual funds, annuities and other non-FDIC insured investments. CFS representatives are available for investment and financial consultation, estate and retirement planning, and all other investments. CFS maintains its NASD and SIPC memberships.

On August 13, 2001, First State Community Bank opened the doors at its Potosi branch, located at Hwy P and Jefferson Street. A temporary banking facility equipped with a drive-up lane housed the branch until the permanent structure was finished.

On February 1, 2002, Landrum Insurance Agency purchased DeGonia Insurance Agency in Potosi, and on March 14, 2002, Landrum Insurance Agency officially changed its name to First State Insurance Agency (FSIA) to reflect its connection to the bank. The name became effective for all the insurance locations.

The newly-constructed Hayti branch opened at 1015 E. Hwy 84 on May 6, 2002, with convenient features for customers. The eagerly-awaited ATM, drive-up lanes, safe deposit boxes and night drop are some of the bank's additions that are frequently used by customers. The old downtown facility was donated to the City of Hayti Library.

Potosi 's permanent bank building officially opened its new doors on September 30, 2002. The DeGonia Insurance Agency office was relocated to the new building and opened as First State Insurance Agency on December 2, 2002. In addition, the CFS office opened in Potosi on December 9, 2002. To celebrate the consolidation of financial services under one roof, an open house celebration was held on December 13, 2002.
                                                                                             
A special ground breaking ceremony was held on March 28, 2003, as the main bank expansion project officially began.

The Cape Girardeau community was introduced to First State Community Bank when the bank opened August 27, 2003. After renovating an office building that was originally built as a bank, the Cape Girardeau bank began operations approximately 45 days after the initial filing with the FDIC.

In April 2004, FSIA moved from its Liberty Street (Farmington) location into the new main bank building in Farmington . Having a main-floor wing of their own and a separate entrance directly to the parking lot, the insurance agency became easily accessible to clients, while at the same time offering the additional convenience of having the bank right next door. Customers do not have to leave the building to access either business.

After 13 months of construction, the downtown Farmington bank was completed. The first week of May 2004, the bank celebrated its 50th anniversary along with the completion of the building. On Sunday, May 2, a special Open House welcomed employees, board members and their families for tours of the new building and dedication of The William H. Cooper boardroom. Other special events marked the 50th anniversary at several bank locations the first week in May. A special Open House and ribbon cutting for the downtown Farmington building took place on Friday, May 7. This event occurred nearly 50 years to the day after the first Open House on Sunday, May 9, 1954. 

At this 50-year mark of progress and development, it was evident that the driving force behind the bank’s success was Cooper himself. Known as a man of few words, he is respected for his numerous ideas, his keen business sense, his vision for the future and his drive to achieve his goals. With most of the major changes at the bank occurring during Cooper’s chairmanship, more exciting changes were certainly on the horizon.

On May 3, 2004, County Insurance Agency in Park Hills, MO was purchased, (and the name was officially changed to FSIA in May 2005). The agency is now located in the Park Hills bank building.

A ground-breaking ceremony was held on January 14, 2005, at the new 2527 William Street location in Cape Girardeau. The new location opened to the public in early September 2005, with the official ribbon cutting and grand opening held October 14, 2005. The original Cape location on North Kingshighway remains open, offering two convenient locations for customers.

FSCB opened a new location in Sikeston on March 25, 2005, in a temporary modular bank on E. Malone Avenue. On November 6, 2006, the newly constructed bank opened its doors to the public, with a grand opening celebration on December 5, 2006. Ground-breaking ceremonies were held on August 24, 2005, for a new Hillsboro bank (on Hwy B, west of Hwy 21) and a second DeSoto location (at Hwy 21 and Old Boyd Street). The banks opened within a week of each other on May 15 and 22 respectively, with ribbon cutting and grand opening celebrations held on May 31, 2006 in Hillsboro and June 14, 2006 in DeSoto.

On May 12, 2006, the bank acquired the loans and deposits of the Hillsboro branch of Keystone Bank. Customers with these accounts were welcomed at the Hillsboro FSCB location, in time for the grand opening celebration.

On October 17, 2005, a modular banking unit opened in Washington, expanding FSCB's reach into the east-central Missouri region. The permanent bank building in Washington opened at 1801 Bedford Center Dr. on May 22, 2006, with a grand opening celebration on June 29, 2006.

On June 23, 2006, FSCB acquired the loans and deposit accounts of the Terre du Lac branch of Unico Bank. A renovation project updated the building, including the addition of a 24-hour ATM and safe deposit boxes. The grand opening celebration took place the week of June 18, 2007, with the ribbon cutting ceremony on June 20 of that week.

In 2006, First State Community Bank opened a new chapter in banking services and community involvement by partnering with the Farmington School District to create a hands-on educational program designed to give students real-world business experience while teaching them various financial management matters. High school seniors applied for the positions, with the chosen students serving as tellers and customer service representatives as well as board members, supervised by a full-time bank employee. The first group of student bankers underwent extensive training during the summer to prepare them for their new positions. The ribbon cutting for the new bank, located in the high school foyer, was held on August 21, 2006. The bank’s business hours are Monday, Wednesday and Friday from 11:30 a.m. to 2:30 p.m., when school is in session on full days. Each year, new student bankers will be chosen from the senior class, based on eligibility.

FSB acquired Progress Bancshares, Inc., in Sullivan, MO on September 14, 2007.  The five Progress Bank located in Sullivan (two banks), Owensville, Wright City and Warrenton were converted to First State Community Banks on February 29, 2008. 

FSCB owns and operates banks from Warrenton in the north to Hayti in the south, and many points between.  With approximately $936 million in assets and a loan portfolio of $698 million, the small community bank started in 1954 has grown to become the second largest banking corporation headquartered in southeast Missouri.  FSCB is proud to be known as the friendly first.