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Heritage Bank Announces Significant Market Growth Across The Lake Region

All News RSS Feed Business Front Page News State News Thursday, September 28th, 2023

Heritage Bank of the Ozarks is recognized for its significant market share growth over the past year.

According to Marketing Officer Jamie Johansen, the bank has gained $30-million in assets this year with a 21.7 percent share of the market in Lebanon and a 9.5 percent share of the market in the Camdenton market area.

Heritage also has a location in Plato and has scheduled a 20-year anniversary party to celebrate its growth over the past 20 years.

That get-together will be from 4-7 on October 20th at the Lebanon Market Place.

 

More info:

Lebanon, MO – September 27, 2023 — Heritage Bank of the Ozarks, your Neighborhood financial partner in Lebanon, Camdenton, and Plato, is proud to announce its significant market share growth over the course of the last year. The local bank gained $30 million in assets this year and now has 21.7% of the Lebanon market.

“Our strong growth is evidence of our commitment to meeting the financial needs of our community. Over the past ten years, the average growth rate for banks in Lebanon has been 5%, but we have grown at an average rate of 14% during that time,” said Lance Boyer, CFO, Heritage Bank of the Ozarks. “Currently, 22% of all deposits in Lebanon are with Heritage Bank.”

Heritage Bank opened its doors in Lebanon on September 22, 2003. Twenty years later, they still strive to be the trusted bank for the customers they like to call their Neighbors. This is proven through deposit growth, a diverse loan portfolio, and a commitment to Neighbors Serving Neighbors.

Ten years later, in 2013, Heritage Bank Camdenton opened its doors. Today, they have continued to show growth with a current 9.5% market share, the highest growth rate in that market area. The Camdenton branch is on track to make the same strides in market growth as the founding location in Lebanon.

The Heritage Bank Plato location was acquired in 2020, and they continue to stand firm in market share. They grew 11% in total deposits in Texas County, the second largest growth rate for that area.

“In 2003, Bill Lewis put together a local investor group and local board of directors to establish Heritage Bank of the Ozarks, a community bank committed to providing needed financial services for friends and neighbors in the communities we serve,” said Kim Light, President and CEO, Heritage Bank of the Ozarks. “We are still committed to those same values 20 years later. We have experienced tremendous and exciting growth, but our vision and dedication to serving our customers have never changed. We are still committed to meeting our customers needs.”

As they celebrate 20 years in banking, the Heritage Bank family would like to invite the community to their 20th Anniversary Party in the Parking Lot on October 14, 2023, from 4:00 p.m. to 7:30 p.m. at the Lebanon Market Place parking lot behind the Lebanon branch. As their trusted Neighbors, enjoy an evening for the entire family.

 

Schedule of Events:

4:00 – 6:00 p.m. – bounces houses, yard games, & food trucks

5:30 – door prize drawings

6:00 – Dawson Hollow concert

 

Heritage Bank of the Ozarks was established in 2003 by local business people with a shared mission of opening an independent community bank. Today, Heritage Bank is still locally owned and operated. With locations in Lebanon, Camdenton, and Plato, the Heritage Bank family is committed to local businesses, local homeowners, and local farmers and ranchers. Heritage Bank uniquely offers financial expertise from Neighbors you know and trust.

All News RSS Feed Business Front Page News State News Thursday, September 28th, 2023

Reporter Mike Anthony