Special to The Hays Daily News
First Kansas Bank announced it has entered into an agreement to assume the deposits and acquire certain assets of Bank of America branches in Great Bend and Hays.
The acquisition, which is subject to approval from banking regulators and customary closing conditions, is expected to be completed this summer. First Kansas Bank does not anticipate job losses as a result of this purchase.
"We are very excited to welcome these new customers to our existing banking family," said Paul Snapp, president and CEO of First Kansas Bank. "These new locations demonstrate our commitment to the Golden Belt area as we enter our 113th year of service. First Kansas Bank is committed to a high level of personal service and community focused banking. We believe our new customers will enjoy the convenience of our five locations and seven ATMs."
First Kansas Bank was founded in 1900 and has grown to $115 million in total assets, with a capital account of more than $8 million. It operates full-service banking locations in Great Bend, Hoisington and Claflin. First Kansas Bank offers loan and deposit services to consumers, commercial businesses and agricultural producers. Bauer Financial Services, the bank rating agency, has given First Kansas Bank its highest 5-Star rating for financial safety and soundness. They are part of a group of banks owned by the Sutherland Family.
The Sutherland family owns banks in Hoisington, Salina, Emporia and Parsons, with branches in Great Bend, Claflin, Ellsworth, McPherson, Abilene, Chanute, Erie, Independence and Oswego. As a group, they are acquiring 10 Bank of America branches in Great Bend, Hays, Lindsborg, McPherson, Caney, Coffeyville, Independence, Hutchinson, Salina and Emporia, which will increase their total assets to approximately $1.1 billion.