Tightwad, Missouri, is a village of around 60–70 people about 22 miles south of Clinton — a 30-minute drive from our front desk. It became famous nationally not for its size but for its name, and for the two lives of the Tightwad Bank.
The name
According to local legend, Tightwad was originally called Edgewood. The story goes that a local storekeeper cheated a postmaster in a transaction — sources vary between a rooster and an extra 50 cents, or a watermelon and an extra 50 cents. The postmaster, in his displeasure, made the town's new name unavoidable. Whether apocryphal or historical, it stuck.
The bank, act one
The first Tightwad Bank opened in 1984 as a branch of the Citizens Bank of Windsor. It started out of a portable trailer before moving into a permanent one-story brick building. The founders were betting the town would boom because of its proximity to Truman Reservoir. That boom never happened. But the name traveled — the bank attracted deposits from customers across the country who wanted a check that said "Tightwad, Missouri" on it. After two armed robberies in the 1990s and declining profitability, the bank — then owned by UMB — closed in January 2007.
The bank, act two
In May 2008, Donald Higdon and Jeff McCalmon reopened the Tightwad Bank name, rebranding their Reading State Bank in Kansas to capitalize on the name's notoriety. That version grew to more than $20 million in combined deposits by 2010 and sold branded hats and mugs. The second Tightwad Bank operation officially closed in July 2018. As of 2019, the original brick building has been repurposed for personal use.
Why we tell the story
We hear "Are you close to Tightwad?" more than you might expect. Yes — about 22 miles / 30 minutes. And if you're driving Missouri for the collection of oddly-named towns (this is a real hobby), we're a good base.
Getting there
MO-7 south from Clinton is the main route. If you're chaining it with Truman Dam (Warsaw), Osceola, or one of the lake ramps, it's an easy add-on to a day trip.
Where to stay
We're the closest full-service hotel with 32 rooms, boat and truck parking, and a real hot breakfast. Book Now on our site or call (660) 885-2206.