APRIL 22-28, 2024 SPRINGFIELD BUSINESS JOURNAL · 19 FROM THE COVER Bank: Systematic’s deposits are nearly $45M in 2023 Continued from page 1 of Systematic have done a great job in building a strong Springfield-based community bank,” Bybee said in the release. “We believe with our investment the bank will be even better positioned to grow, serve our customers and create solid returns for our shareholders.” The deal must be approved by Systematic’s stockholders, among other closing conditions. “This transaction allows us to partner with a local investor group that will continue our focus on providing customers with high-quality service as well as maintaining our deep commitment to the community we serve,” said Derek Fraley, chair, president and CEO of Systematic, in the release. The boards of Arlo and Systematic each have approved the deal, which also is subject to a private placement capital raise by Arlo and regulatory approvals. The deal is expected to close in the fourth quarter of 2024 or the first quarter of 2025. Systematic’s website lists its board members as Fraley, Trevor Crist, Ryan DeBoef, Dianna Devore, Kim Kollmeyer, Jeff Seifried and R. Bradley Weaver. Fraley became the bank’s leader in 2017 after previously working for BancorpSouth, according to past reporting. Reached by email, he declined to provide further details, other than to say that a proxy statement is in the works to be released in a couple months. Strobel’s LinkedIn profile additionally indicates he’s the co-owner of APC Solar and Ballparks of America, among other ventures. Snider, too, is a co-owner in APC Solar and Ballparks of America, according to his LinkedIn. Arlo also has set up a LinkedIn page, with nine associated employees named publicly among connections on the social media network. Arlo employees include Ryan Jones as chief lending officer and Corey Harmon as senior lending officer, according to LinkedIn. Jones comes from OakStar, and Harmon previously worked for Central Bank, according to LinkedIn. According to the release, Luse Gorman, PC, served as legal counsel to Arlo and Breyer & Associates PC served as legal counsel to Systematic in the deal. Systematic had $64.6 million in total assets, $52.6 million in net loans receivable, $47.2 million in deposits and $10.5 million in total stockholders’ equity as of Dec. 31, according to the release. According to the latest Federal Deposit Insurance Corp. market share report as of summer 2023, Systematic Savings Bank holds 0.3% of local deposits at nearly $45 million. Founded in 1923, Systematic became public on the over-the-counter market amid the pandemic, according to past reporting • OWNER/DEVELOPER FOR LEASE RETAIL • 1,000 sq ft 2755-A W. Chestnut Expressway • 3,200 sq ft 2811 W. Chestnut Expressway • 5,600 sq ft 2845 C W. Chestnut Expressway OFFICE/WAREHOUSE • 2,000 sq ft 2335 E. Chestnut Expressway A100 1630-H E. Bradford Parkway Springfield, MO 65804 417.831.3885 teri@wehrjohnson.com www.wehrjohnson.com MSU plans $20M advancement center by Geoff Pickle · gpickle@sbj.net Missouri State University on April 12 announced plans for a multimillion-dollar advancement center at the front of the Springfield campus. Brent Dunn, MSU Foundation executive director and vice president for university advancement, said at a news conference at the school’s Davis-Harrington Welcome Center that an anonymous donor pledged a seven-figure gift to help create the Clifton M. Smart III Advancement Center. The advancement center, which would have a price tag of $20 million to $25 million, would be built at the current site of a parking lot in front of Monroe Apartments, across Bear Boulevard from the Welcome Center, Dunn said. “The facility should evoke a sense of institutional pride,” he said, noting it’s designed to complement the Welcome Center. “It’s more than an office building. It’s a home for alumni and friends.” Dake Wells Architecture Inc. is serving as project architect for the two-story, 28,000-square-foot building, university officials say. A groundbreaking is expected to be held in early 2025 for the facility that’s slated for completion in summer 2026. A general contractor was not announced at the April 12 event. Speaking at the news conference, MSU President Clif Smart said “it was frankly stunning” to find out the anonymous donor wanted to name the building after him. The university’s president since 2011, Smart is set to retire this summer. “It’s possibly the most significant honor that I’ve had,” said Smart, who became emotional recalling his years leading the university. “I am so proud that my name will be associated with the university for the rest of our lives.” The building would house university advancement, the MSU Foundation and the Alumni Association, and plans include a 200-seat indoor event center, an outdoor space that can be used for gatherings and displays showing the history of MSU and donations to the school, Dunn said. The university is fundraising for the project, he said, noting officials are halfway toward their $10 million goal. Beverly Keltner, incoming chair of the MSU Foundation board, is among donors to the project. A conference room in the new center will be named for the Miller-Keltner families. Additionally, the event space would be named for late MSU donor Kenneth E. Meyer. Dunn previously hinted at the project plans in February, when MSU announced the sale of the Meyer Alumni Center in downtown Springfield to Community Foundation of the Ozarks Inc., according to past reporting. The MSU Foundation plans to lease back its space in the building until its move to campus. • Derek Fraley: Proxy statement likely to be released in a couple months. provided by MISSOURI STATE UNIVERSITY The Clifton M. Smart III Advancement Center is slated for completion in summer 2026. Facility slated to open in summer 2026
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