How a Community Bank Raised $75M in 10 Weeks with a Digital-Only Branch


Celent, the banking consulting subsidiary of Oliver Wyman, recognized Midwest BankCentre, a $2B community bank in Missouri, as its Model Bank 2020 for Community Banking Transformation. 

Midwest BankCentre’s story exemplifies how a community financial institution achieved significant results on short timing with few resources through skillful leadership, prudent risk management, and careful vendor selection. 

The bank historically grew through traditional means; branch building and strategic acquisitions. In 2018, it set out on one of the largest undertakings in its recent history — the launch of a modern digital branch, Rising Bank — to rapidly grow its deposit base and support its continued growth. 

“For perspective, a well-placed branch in the St. Louis market could expect to gather $20 million in deposits within the first year of branch operations, growing to $50 million after three years — and would likely take several years to break even and require 4–5 FTEs to sustain operations,” said Bob Meara, a senior analyst at Celent. 

Midwest BankCentre, however, gathered $100 million in just six months. Download Celent's case study to learn more about the community bank’s unprecedented success.