Growth sparks shift in bank leadership

Increasing growth has led to a shift in top leadership at First National Bank & Trust.

The Columbia-based bank, along with its holding company, The Landrum Co., announced three management changes Wednesday.

Kevin Gibbens, formerly president of First National Bank, has taken over as president and chief operating office of The Landrum Co. Sabrina McDonnell will take over as president, and Andrew Beverley will become the chairman and CEO of First National. Beverley also will oversee banks owned by The Landrum Co. in southern Missouri.

“The way that I look at this is not as Jeff MacLellan (CEO of The Landrum Co.) planning for his succession, or Kevin getting promoted to the holding company or Sabrina becoming the new president of the bank or me taking over as CEO,” Beverley said. “We view this as all four of us working together as a team to propel the bank into this new era of growth.”

The bank added two new branches and an ATM site last year, Gibbens said. There was also growth in checking accounts, retail customers and loans. The loans grew from $94 million in 1986 to $349 million last year, Beverley said in an e-mail. The growth in all three areas has been significant in the past three years, he said.

“(This) is a really thoughtfully, carefully planned transition,” McDonnell said. “Employees are excited and there is an energy around the building that is just really positive.”

First National Bank is the only locally owned bank in Columbia.

The bank has 10 branches and 16 ATMs. In addition to First National, The Landrum Co. has banks in southern Missouri, north central Texas and southern Oklahoma. The Landrum family has four generations and 100 years of experience in banking in Missouri.

“As a result, they take a really long-term view of things,” Beverley said. “That’s good for the bank and that’s good for the community.”

While the bank is looking to the future, Gibbens said that last year was successful financially.

“It was a great year financially,” Gibbens said. “We had really strong earnings for the bank.”

The bank currently has $437 million in assets, compared to $141 million 20 years ago. In that same time period, the bank has added six new branches and 81 employees, raising the total to 199. Most of The Landrum Co.’s 104 employees are also based in Columbia.

Though Gibbens didn’t specify places for future growth, he said they are always looking.

“We’re a growing company so growth will happen,” he said. “From the bank standpoint we are always looking for new locations to open branches to serve our customers.”

While they are always looking to serve their customers, Gibbens said they also try to serve them outside of the bank.

“Mark Landrum, who is the principle owner of the company, has a vision for the banks being a significant part of the community where they are located,” Gibbens said. “He’s got a long-term perspective of trying to build the franchise, build our locations, find ways to serve the customer and find ways to be a financial service provider to our customers in different kinds of ways.”

Beverley, Gibbens and McDonnell are involved in multiple community organizations, such as Columbia CrimeStoppers, Missouri Theatre Center for the Arts capital campaign, United Way and the Chamber of Commerce.

“We take our responsibility to serve Columbia very seriously,” Beverley said. “That’s part of what makes us different.”