CBI Bank and Trust, based in Muscatine, 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. 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. The technology update marks the successful completion of a plan put in motion the previous year. 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.
The seamless process was a result of months of planning, coordination, and hard work by many talented individuals within the organization. With this acquisition and merger, CBI is now 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.