Springfield Business Journal_2021-01-25

SPRINGFIELD BUSINESS JOURNAL · 7 JAN 25-31, 2021 NEWS BRIEFS This 100% online graduate-level certificate offers timely and relevant coursework to strengthen and bolster those in the nonprofit sector. Complete this four-course certificate as a stand-alone credential or apply the coursework toward the 10-course Master of Nonprofit and Civic Leadership or Master in Integrative Leadership degrees. Learn more about the program at drury.edu/MNCL COLLEGE OF GRADUATE STUDIES E A R N YOU R NON PROF IT LE A DE R S H I P CE R TI F I C ATE by Geoff Pickle · gpickle@sbj.net Springfield First Community Bank’s nine-year CEO has retired. Rob Fulp is succeeded by Monte Mc- New, the company’s president, effective immediately, accord- ing to a news release issued Jan. 19. “Serving as CEO at SFC Bank has been an honor for me and I’m proud of our reputation for serving clients and the com- munity. Making the decision to retire is never an easy one, but the time is right to make this transition,” Fulp said in the release. “Monte is an outstanding leader, and I’m confident in his ability to lead SFC into the future.” A company spokesperson said Fulp does not plan to join another organization. Fulp became chair and CEO of SFC Bank in 2011, after previously serving as president of Ban- corpSouth in Springfield. He also has past experience as president of The Signature Bank, which was purchased by BancorpSouth for roughly $170 million in March 2007, according to Springfield Business Journal archives. A member of the Missouri State University College of Business Executive Advisory Committee, Fulp has roughly 40 years of banking experience. Fulp maintained his CEO role in 2018, when the board chair position went to former Springfield Area Chamber of Com- merce leader Jim Anderson. McNew became SFC Bank’s president in 2017, after co-founder Brian Straughan left his position for an out-of-state job, ac- cording to past reporting. McNew previ- ously was the company’s executive vice president. “Monte brings impressive experi- ence to the role of president and CEO and has the support of a strong manage- ment team at SFC,” Anderson said in the release. McNew said he’s happy to continue building his career locally, noting he’s been a member of the community during his entire professional life. “I look forward to building on the strong foundation we’ve established over the years,” he said in the release. SFC Bank in 2018 sold to Moline, Illi- nois-based QCR Holdings Inc. (Nasdaq: QCRH) in a cash-and-stock deal valued at $90.7 million. As of Sept. 30, SFC Bank had $803.5 million in assets, $592.5 million in depos- its and $620.7 million in loans and leases, according to QCR’s latest quarterly report. SBJ FILE Springfield First Community Bank’s assets were $803.5 million as of Sept. 30. Rob Fulp led SFC Bank since 2011. Monte McNew is the bank’s new CEO. SFC Bank CEO retires Meek’s parent makes purchase by SBJ Staff · sbj@sbj.net Springfield-based American Construc- tion Source, the company formed in 2018 to buy Meek’s Lumber Co., announced a new acquisition. The purchase of Wisconsin- based Builder’s Resource Group was com- pleted for undisclosed terms, according to a news release issued Jan. 20. “ACS welcomes the BRG team to our growing portfolio of service-oriented lum- ber and building materials locations,” said James Drexinger, CEO of ACS, in the re- lease. “BRG has built a great business, and we are excited to partner with them and their customers.” Through the deal, ACS is building on its existing presence in the Minnesota and Wisconsin markets under the Arrow Build- ing Center brand. ACS was formed by Angeles Equity Part- ners LLC and Clearlake Capital Group LP to buy the Springfield-based, family-owned Meek’s in September 2018. Drexinger was named the new CEO of Meek’s and ACS at that time, with the new company establish- ing its national headquarters in Springfield, according to past reporting. ACS operates at 1311 E. Woodhurst Drive in the Woodhurst Office Park, according to its website. The BRG deal marks ACS’ eighth acquisi- tion since its formation.