By Tom Weber, KWMU
St. Louis, MO – St. Louis-based Pulaski Bank announced Tuesday that it will buy another locally-owned company, Central West End Bank. The estimated value of the buyout is $7.6 million dollars.
Central West End Bank only operates two offices in St. Louis, in the Central West End and the Skinker-DeBaliviere neighborhoods.
Pulaski has just eight branches, seven in the St. Louis area and one in Kansas city. But Pulaski's CEO sees the move as strategically important.'
"We are adding two bank locations in an important, growing part of St. Louis that is underserved," said William Donius, chairman and CEO of Pulaski Financial. "We have a number of customers in the Central West End area of St. Louis. A strong physical presence will give us the platform to accelerate our growth in this part of the city."
The buyout needs stockholder and government approval, but is expected to be complete during the first quarter of 2006.