Kansas City, Mo.-based community banks Verimore Bank and Clay County Savings Bank completed a core conversion and officially merged July 25 — expanding the market for the combined entity in Northland. 

The combined $600 million entity began operating as Verimore Bank on July 28. 

“We are a bank who has been focused for several years on a growth strategy,” Kristie Stuewe, president and chief executive of Verimore Bank, told Bank Automation News. 

Talks of a merger began in 2024 and continued into this year before the first agreement was signed in February, she said.  

The transaction took place in two phases. First, First Missouri Bancshares, the holding company for $471.3 million Verimore Bank, acquired Clay County Savings Bank in March for $137.3 million. 

For four months following the acquisition, Verimore Bank and Clay County Savings Bank worked as sister entities, planning the core conversion, Stuewe said.    

Core conversion

“The decision was made very early on that we would maintain Verimore Bank’s core,” FIS, and shift Clay County Savings Bank onto that core, Stuewe said.  

Because the core changed, Clay County Savings Bank clients will need new debit cards and be re-enrolled into online banking, Stuewe said. 

While the transition caused increased call volume for the bank during the first week post-conversion, the number of calls is tapering off, she said.  

New offerings

The combined entity also viewed the merger as an opportunity to roll out new offerings, Stuewe said.  

Clay Country Savings Bank clients now will have access to the mobile wallet already available to Verimore Bank customers, and all clients will have access to tap-to-pay capabilities. 

Through the merger, all Clay County Savings Bank employees are now operating under the enlarged Verimore Bank umbrella, total employees fall just under 100 employees.