MARK TWAIN BANCSHARES, INC.

The leadership of Mark Twain Bancshares assumed, upon formation of the company, that the targeted segment of the financial services marketthe socalled middle marketwould respond favorably to personal attention, a refined ambience, convenience, and prompt services, and that the members of the segment would be willing to pay for such characteristics in a financial services deliverer. Thus, in this context, one of the values of the company has been a commitment to the creation of a tailored local leadership for each operating unit of the company.

The company created such tailored local leaderships through the creation of boards of directors for each operating unit that are drawn largely from the market segment served by the operating unit. As Missouri, at the time setting of the case, was a no branch bank state, separate boards were a legal requirement anyway. Having stated that the company created tailored local leaderships for each operating unit, however, does not mean that each operating unit manager was able to exercise a high level of managerial autonomy. In fact, the boards of directors of each operating unit played major roles in the determination of operating unit strategies and, in some instances, operating procedures.

Neither did the several operating unit boards o

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very strong probability that Missouri would rescind its prohibition on branch banking. First, such a change would very likely mean that the large banks would establish branches to compete directly with the operating units of Mark Twain Bancshares. Secondly, Mark Twain Bancshares was required to review its own structure of operating units with separate boards of directors. Efficient future operations might dictate a conversion of the operating unit organizational structure to a branch bank structure. An important subissue for the bank in this context was the future role of the operating unit or branch manager in the new operating environment. The Need for Strategic Change There can be little doubt that a strategic change in which some operating units or branches are consolidated or closed, and in which the role of tailored local management is curtailed will change the character of Mark Twain Bancshares. There can also be little doubt that many of the company's customers will resent such changes, or that most of the company's operating unit boards and managers will resist such changes. On the other hand, the bank must assess the extent to which its existing customer base will remain loyal, once the major banks establish
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Approximate Word count = 1730
Approximate Pages = 7 (250 words per page)