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.


We selected vendors based on their operational and technological excellence, taking the approach that ‘If you want to win the Super Bowl, you have to recruit Tom Brady.’ When issues arose, we had vendors that thought creatively and approached problem solving with a data-driven mindset.

Dale Oberkfell, President & CFO

Midwest BankCentre