Alterra Bank, the region’s top small business lender, announced this morning that it would become First Business Bank, effective June 1. That aligns the company with the branding of its parent, First Business Financial Services, and follows an announcement made in January to consolidate the charters of Alterra and two other subsidiary banks based in Wisconsin: First Business Bank, headquartered in Madison, and First Business Bank-Milwaukee, headquartered in Brookfield.
Combined, the three banks give FBFS operations in 14 locations. Until this move, Alterra was the only location not utilizing the First Business brand. “Our Kansas City employees were the strongest advocates for this change,” said David Seiler, Alterra’s interim president and CEO. “We believe our clients will benefit from First Business’s full suite of financial services, focused on the specific needs of businesses and business owners.”
In a news release announcing the rebranding, the company said it would continue to offer SBA lending, commercial lending, treasury management, and private banking services to Kansas City businesses and business owners. Expanded services will now include: retirement plans, equipment finance, asset-based lending, factoring, and private wealth management solutions.
In addition, Rob Barker has been named president of the Kansas City region, also effective June 1.