LEAWOOD, Kan., May 21 /PRNewswire/ -- Gold Banc, (Nasdaq: GLDB), announced
today the closing of a public offering of 1,400,000 Trust Preferred Securities
by GBCI Capital Trust, (Nasdaq: GLDBO), a statutory business trust established
by the Company in 1999 for the exclusive purpose of issuing and selling trust
securities and using the proceeds to purchase the Company's Junior
Subordinated Debentures. The Company and the Trust also has pending an
additional 210,000 Trust Preferred Securities pursuant to the exercise by the
underwriters of their over-allotment option. The public offering price was
$25.00 per Trust Preferred Security with a coupon rate of 9.12%.
The offering was made through an underwriting group led by Advest, Inc.
and USBancorp Piper Jaffray, Inc. Prior redemption is permitted under certain
circumstances, such as changes in tax or regulatory capital rules. The net
proceeds from the sale of the debentures will be used to repay in full the
parent company's long-term debt, acquire for cash banks and permissible non-
bank entities and for general corporate purposes. The Federal Reserve System
has approved securities of this type as Tier I capital for regulatory capital
purposes. The Capital Securities are guaranteed by Gold Banc on a
subordinated basis. A copy of the final prospectus relating to these
securities can be obtained from the offices of the underwriters.
Gold Banc is a multi-bank holding company with $1.15 billion in total
assets as of March 31, 1999.
Visit the Gold Banc web site at: http://www.goldbanc.com
SOURCE Gold Banc
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Related links:
http://www.goldbanc.com
CONTACT:
Keith E. Bouchey, Exec. V.P. & CFO,
keithb@goldbanc.com, or Investor Relations, Brian J. Ruisinger,
brianr@goldbanc.com, of Gold Banc Corporation, Inc.,
913-451-8050; or General Information, Mike Arneth, 312-640-6734,
mga@chi.frbd.com, Analysts-Investors, Paul Scheeler,
312-640-6742, pas@chi.frbd.com, or Media Inquiries, Bess
Gallanis, 312-640-6737, bag@chi.frbd.com, all of The Financial
Relations Board
NOTE TO EDITORS: For more information on Gold Banc toll-free via
fax, simply dial 1-800-PRO-INFO, follow the voice menu prompts
and enter the company code "GLDB" on any touch tone phone
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