It’s a “Year of 10s” for Bloomsdale Bank.
“In 2024, we’re celebrating our 110th year in business,” said Matt Bono, vice president and manager of the Herculaneum branch. “The Ste. Genevieve branch is 20 years old, the Herky one is 10 and we opened a new branch in Festus in January.”
The other branches are in Crystal City and Bloomsdale.
Bono said banks and the real estate industry in general are facing a number of challenges.
“There is a shortage of homes on the market, which leads to increased prices,” he said. “Interest rates are in the 7s. We need to be able to navigate a lot of different products to get our clients into the home of their dreams.”
Bono said being locally owned gives Bloomsdale Bank some distinct advantages, among them flexibility.
“There are things we can do because of that flexibility that larger banks couldn’t or wouldn’t do,” he said. “For one thing, it’s personal attention from people right here in the community. You have someone to sit and down and talk with rather than having to call an 800 number. Especially in the rate environment we’re in, its important to trust who you’re talking with.”
Bono emphasized the bank’s tagline: “We are connected to our customers.”
“There is no one-size-fits-all for banking,” he said. “But being right here, being part of the community, gives us a better feel for what our customers are going through so we can better tailor our products to them.”
Bono said Bloomsdale is mostly offering fixed-rate mortgages right now.
“But we do a lot of land loans, some construction loans,” he said. “And we are a full-service bank – checking, savings, CDs, life insurance, all types of loans. We can help anyone, I believe.”
For information, go to bloomsdalebank.com.