CBI Bank & Trust Completes Successful Merger with Southeast National Bank, Expands Services and Offers New Benefits to Clients

CBI Bank and Trust, a Muscatine-based financial institution, recently completed technology updates at former Southeast National Bank (SENB) locations in Moline. This update marks the successful completion of a plan that was put in motion over a year ago.

Central Bancshares Inc., the parent company of CBI, acquired McLaughlin Holding Company, the parent company of SENB, in October 2023. As a result, SENB has been merged into CBI, with all client accounts now part of CBI Bank & Trust’s computer systems and operations.

Former SENB Bank clients can now benefit from banking at 24 locations and access to a broader range of services, including wealth management, investments, and treasury and cash management services. CBI and F&M Bank, a division of CBI Bank & Trust based in Galesburg, Illinois, collectively serve approximately 50,000 consumers and businesses through their branches in Iowa, Illinois, and Wisconsin. The total bank assets now exceed $1.5 billion, making CBI Bank & Trust one of the largest locally based banks in the region and placing it in the top 10-15% of Iowa banks. The bank’s Trust and Investment divisions manage over $1.4 billion in client assets.

Bob Howard, the regional president of CBI Bank & Trust expressed satisfaction with the smooth transition and extended a warm welcome to clients in the Quad-Cities and stateline areas. He thanked all those who worked on this project for months of planning