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Merger Plans Announced |
| May 15, 2008 @ 03:38pm CDT |
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PRESS RELEASE - 1/07/08
Bank Announces Merger Plans
An application has been filed to formally merge the Kaw Valley State Bank & Trust Company of Wamego and the First National Bank of Clifton, which also operates a branch at St. Marys.
"There will be no change in ownership and management since both banks are owned by Kaw Valley Bancshares, Inc.," said Ed Martin, president of both banks. "This will allow the banks to share some overhead expenses, expand services, and offer larger loan limits in all three communities," Martin said.
The bank is proposed to operate under a state charter which will eliminate one bank regulator and simplify compliance issues. According to Martin, total assets of the three bank offices currently exceeds $120 million.
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