LEAWOOD, Kan., June 15 /PRNewswire/ -- Gold Banc, (Nasdaq: GLDB),
announced today the exercise of the underwriters' overallotment option or
"green shoe" for 102,000 or $2,550,000 in Trust Preferred Securities by GBCI
Capital Trust II, (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 public offering price was $25.00 per Trust
Preferred Security with a coupon rate of 9.12%. The Company previously
announced on May 21, 1999 the closing of a public offering of 1,400,000 Trust
Preferred Securities by GBCI Capital Trust II.
The offering was made through an underwriting group led by Advest, Inc.
and U.S. Bancorp 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 bank and financial services 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
 back to top
Related links:
http://www.goldbanc.com
CONTACT:
Keith E. Bouchey, Exec. V.P. & CFO,
913-451-8050, e-mail, keithb@goldbanc.com, or Investor Relations,
Brian J. Ruisinger, 913-451-8050, e-mail, brianr@goldbanc.com,
both of Gold Banc; or General Information, Mike Arneth,
312-640-6734, e-mail, mga@chi.frbd.com, Analysts-Investors, Paul
Scheeler, 312-640-6742, e-mail, pas@chi.frbd.com, or Media
Inquiries, Bess Gallanis, 312-640-6737, e-mail, bag@chi.frbd.com,
all of Financial Relations Board
NOTE TO EDITORS: For more information on Gold Banc toll-free via
fax, simply dial 800-PRO-INFO, follow the voice menu prompts and
enter the company code "GLDB" on any touch tone phone
|
