A northwest Texas County bank will close later this summer.

Legacy Bank and Trust — the successor to The Bank of Plato — will close the branch there on Aug. 15. The announcement is the third involving a county bank in the last year.

The company purchased the bank previously known as The Bank of Plato in 2003. Founded in December 1907, the bank is located on Highway 32 across from the village’s school district.

“We have operated the Plato location for more than 17 years and appreciate the significance of its operation in that area. For those reasons and many more, closing this location was a difficult decision that the board did not take lightly,” said John Everett, president and CEO.

Customers will able to transition to the bank’s Mountain Grove location.

The announcement caps several in the last year involving financial institutions in the county.

Last year, The Bank of Houston was acquired by St. Louis area investors, and Landmark Bank was sold to Simmons Bank. Simmons later closed the branch at Licking. Salem-based Progressive Ozark Bank announced recently it has acquired the real estate to locate a branch there. 

Through most of its operation, the Plato bank was associated with the Tilley family.

 

 

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