Bloomsdale Bank, one of Jefferson County’s oldest community banks, is branching out to a new community.
Matt Bono, vice president and manager of Bloomsdale’s Herculaneum branch, said the institution’s third Jefferson County branch and fifth overall will open late in 2023 or early in 2024.
Construction has begun on the new facility at 1309 Shapiro Drive in Festus.
Bloomsdale has branches at 100 Scenic Drive in Herculaneum and 100 Bailey Road in Crystal City plus locations in Ste. Genevieve and Bloomsdale.
“We’re all excited about the new location,” Bono said, which he said will extend its footprint but not change its mission.
“Our biggest selling point to our customers has always been that we’re a community bank,” he said. “We’re locally owned, and all of our loans are serviced right here. There’s no calling around the country. When you call us, you talk to a real person, and you will probably be connected with the person who originated the loan. And you can always visit us and talk with us.”
Bono said as a community bank that is a part of the region, Bloomsdale Bank can help clients negotiate the ups and downs of the real estate market.
“We did well during COVID, when the interest rates were low, and now that they’re higher, we’re getting through that. The important thing to know is that these things are cyclical. We’re expecting rates to go down in the near future,” he said.
And when they do, Bono said, Bloomsdale can help with refinancing to get clients into a lower interest rate.
“We also offer construction loans, to help people build their own home, and loans to buy land. And while we pride ourselves on our loans, we are a true full-service bank.”
For information, go to bloomsdalebank.com.
