CBI Bank & Trust Completes Technology Update at former SENB Bank locations

News Release – For Immediate Use

April 22, 2024

Contact: Bob Howard, EVP, Regional President, Chief Commercial Lending Officer • CBI Bank & Trust, Muscatine, IA • (563) 262-3137 • [email protected]

Muscatine, IA Last October, Central Bancshares, Inc. of Muscatine, Iowa, parent company of CBI Bank & Trust, completed the purchase of McLaughlin Holding Company, parent company of SENB Bank, based in Moline, Illinois, and merged SENB Bank into CBI Bank & Trust.

A technology update occurred this past weekend, and all former SENB Bank client accounts are now part of CBI Bank & Trust computer system and operations.

“We’re pleased to announce the successful completion of our plan that was put in motion last year and would like to extend a warm welcome to clients in the Quad Cities and Stateline (Illinois/Wisconsin) areas,” said Bob Howard, Regional President of CBI Bank & Trust. “The fact everything went so smoothly is a testament to months of planning, coordination, and hard work by many talented individuals throughout our organization. I’m extremely proud of their efforts.”

“Starting today, clients of the former SENB Bank can enjoy the convenience of banking at twenty-four locations, plus access to a wider array of services such as wealth management, investments, and treasury and cash management services,” said Howard.

About CBI Bank & Trust

CBI Bank & Trust, based in Muscatine, Iowa, and F&M Bank, a Division of CBI Bank & Trust, based in Galesburg, Illinois, serves approximately 50,000 consumers and businesses through 24 branches, with locations in Bettendorf, Buffalo, Coralville, Davenport, Kalona, Muscatine, Walcott, Washington, and Wilton in Iowa, and Brimfield, Buffalo Prairie, Galesburg, Joy, Moline, Monmouth, Peoria, and Roscoe in Illinois, and Beloit, Wisconsin. Total bank assets now exceed $1.5 billion. In terms of size, this makes CBI Bank & Trust one of the largest locally based banks in our market area and places the bank in the top 10-15% of Iowa banks. In addition, the bank’s Trust and Investment divisions manage combined client assets of over $1.4 billion.

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