News Release
Midlothian, Virginia, January 12, 2022: Community Bankers’ Bank is pleased to announce the selection of First Bankers’ Banc Securities (FBBS) as the new alliance partner for Investment Services. FBBS, headquartered in St. Louis, MO, is a broker-dealer that provides investment, analytic, accounting, and asset-liability services to community banks throughout much of the country.
Gary R. Shook, President and CEO of Community Bankers’ Bank, commented, “We are pleased to join forces with FBBS. A.W. Spellmeyer, and CBB’s dedicated investment associate, Crosby Taylor, are perfectly aligned to serve the best interests of our shareholder and client banks. Moreover, the concept of bringing solutions to our clients rather than the ‘trade of the day’ will serve everyone better. With the disruption in the bank space broker-dealer community, we see this as a perfect opportunity to up our game. Look for our team to be calling soon.”
FBBS will offer an expanded range of services and enhancements to existing services that have been optimized to benefit community banks. Their suite of products and services, experience in capital markets, and 15 years of fellow bankers’ bank ownership constitute a platform focused on adding value for our clients and shareholders. “Given our current mix of ownership and client base, FBBS is perfectly suited to complement CBB’s existing businesses. We operate with a “bankers bank” mentality, not traditionally seen in the broker-dealer community. FBBS has built our entire platform with community banks in mind. We know this will be a value add proposition for CBB clients and shareholders going forward, and we are excited about the opportunity,” stated A.W. Spellmeyer, FBBS President and CEO.
About Community Bankers’ Bank
Community Bankers’ Bank is a State-Chartered Fed Member bankers’ bank, owned and directed by independent community banks in the Fifth Federal Reserve District and contiguous states. It gives community banks unique and outstanding value by the economies of scale it creates as a bank partner, never a competitor. It provides the products and services that banks need to operate and excel. Its competitive pricing and superior service make it a vital resource for community banks.
About FBBS:
FBBS, formerly known as First St. Louis Securities, Inc., was founded in 1984 to service community banks and their investment portfolio needs in a simple and straightforward manner. The firm remained independently owned for over 20 years. In the fall of 2006, bankers’ banks representing several Midwestern states acquired First St. Louis Securities, Inc. and rebranded as First Bankers’ Banc Securities, Inc. (FBBS). In January of 2020, they welcomed a new equity investment from the Bankers’ Bank of the West, located in Denver, CO. Founded and headquartered in St. Louis, Missouri, FBBS now has offices in several states.
For further information, please contact Jo Ellen McKinley, 804-239-0452, jmckinley@cbbonline.com, Rose Washofsky, 919-368-0217, rwashofsky@cbbonline.com, or Crosby Taylor, 804-410-6147, CTaylor@fbbsinc.com.