For more information or interview opportunities:
Shelley McTigue, VP, Retail Sales and Communications Officer
smctigue@fsbtrust.com | 573-472-2424
March 19, 2026
FOR IMMEDIATE RELEASE
First State Bank & Trust Announces Definitive Agreement to Acquire Senath State Bank
CARUTHERSVILLE, MO – First State Bancorp, Inc. ("First State"), the holding company for First State Bank & Trust ("FSBT") announced it has entered into a definitive agreement to acquire Senath Bancshares, Inc. ("Senath") and its wholly-owned subsidiary Senath State Bank. The transaction, which is subject to regulatory approval and other customary closing conditions, will unite two community-focused banks dedicated to serving Southeast Missouri. The combined organization will serve customers from 10 locations in Southeast Missouri, blending a long tradition of local service with expanded resources and capabilities.
The acquisition brings together two institutions with shared values and a deep commitment to the customers and communities they serve. Customers of both banks can expect a smooth transition with no immediate changes to their accounts or branch operations. Customers will continue to be served by the same friendly, local teams they know and trust, now with the added benefit of FSBT's expanded services and technology.
"We are thrilled to welcome the customers and employees of Senath State Bank to the FSBT family," said Matt Drake, Chairman and CEO of FSBT. "This is a natural fit. Senath State Bank has a wonderful history of local service, and we are committed to continuing that legacy. Together, we will be stronger, allowing us to invest more in technology and services while preserving the local decision-making and personal attention that define community banking. We look forward to building a bright future together."
Will Mobley, President of Senath, shared his confidence in the partnership. "Finding a partner that shares our core values was our highest priority. FSBT's commitment to its employees, customers, and communities mirrors our own. This agreement ensures our customers will continue to receive the exceptional service they deserve from familiar faces, while gaining access to a wider range of products and services. We are truly excited for the opportunities this creates for our team and our customers."
Upon completion of the acquisition, the combined institution will have an expanded footprint across the region, reinforcing its commitment to supporting local economies and residents. Both banks will communicate proactively with customers and employees throughout the transition period. More information will be made available in the coming weeks.
A distinguishing feature of FSBT is the Employee Stock Ownership Plan (ESOP), one of the largest shareholders of the holding company. Composed entirely of FSBT employees, the ESOP serves as a meaningful benefit to team members and a strategic advantage in the marketplace. By allowing all employees to participate in the success of the bank as owners, the ESOP ensures that the vision and focus of every team member are aligned with those of the organization's shareholders — a commitment to long-term strength and service that will carry forward into this expanded institution.
First State Bancorp, Inc. was advised in this transaction by Performance Trust Capital Partners, LLC as financial advisor and Polsinelli PC as legal counsel. Senath Bancshares, Inc. was advised by Friday, Eldredge & Clark, LLP as legal counsel.
About First State Bank & Trust
For more than 90 years, First State Bank & Trust Co., Inc. remains a locally owned financial institution and through the commitment of its officers, directors and employees it continues to be a strong, stable and independent community bank with local management at each location. In 2023, FSBT proudly welcomed SEMO Title, offering a full range of title services to continue serving the communities where we live and work. To find out more, visit FSBTrust.com or SEMOTitle.com.
About Senath State Bank
Senath State Bank is a community-based financial institution serving the banking needs of Senath, Missouri, and the surrounding areas. For decades, it has been a trusted local partner, committed to providing dependable banking services and contributing to the growth and prosperity of its community.
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