CBI Bank and Trust, based in Muscatine, has recently completed technology updates at former Southeast National Bank (SENB) locations in Moline. Central Bancshares Inc., the parent company of CBI, acquired McLaughlin Holding Company, the parent company of SENB, in October 2023. SENB has since been merged into CBI, with all former SENB client accounts now part of CBI Bank & Trust’s systems and operations.
The technology update took place over the weekend and was successful, thanks to months of planning, coordination, and hard work by individuals throughout the organization. Bob Howard, regional president of CBI Bank & Trust, extended a warm welcome to clients in the Quad-Cities and stateline (Illinois-Wisconsin) areas. Clients of the former SENB Bank now have access to banking at 24 locations and a wider array of services including wealth management, investments, and treasury and cash management services.
CBI Bank & Trust, along with F&M Bank, a division of CBI based in Galesburg, Illinois, serves approximately 50,000 consumers and businesses through 24 branches across Iowa, Illinois, and Wisconsin. The bank’s total assets now exceed $1.5 billion, making it one of the largest local banks in its market area and placing it in the top 10-15% of Iowa banks. Additionally, the bank’s Trust and Investment divisions manage over $1.4 billion in client assets.