HIGHLIGHTS
-- Gold Banc becomes 4th largest commercial bank domiciled in Kansas
with combined deposits of more than $630 million at September 30, 1999
-- Combines Gold Banc's operations in Kansas to improve administrative
efficiencies
-- Strengthens local managements' sales and service capabilities to
provide better personalized service to our customers
LEAWOOD, Kan., Oct. 27 /PRNewswire/ -- Gold Banc, (Nasdaq: GLDB), in
another step toward creating America's premier community banking and financial
services company, announced its intention to reorganize its bank holdings in
Kansas through a consolidation of its various charters into one statewide
charter. The primary reason for this is to enhance the ability of its Kansas
community banks to focus on providing their local communities with enhanced
products and services while eliminating unnecessary regulatory burdens and
overhead expenses.
Michael W. Gullion, Gold Banc Chairman and CEO, said, "Gold Banc's vision
is for each of its community banks to be known as the high performance bank of
choice in each community it serves. Its strategy is to sell diversified
financial products through each community bank while having: a strong and
persuasive local community focus, an active local Board of Directors that
actively promote the bank's success, and empowered employees that it calls
"local decision makers" who can provide customers with "More than Money".
"This consolidation of charters will allow its local Presidents to spend
100% of their time on the business of serving their communities. Local
decision making is a non-negotiable requirement of working for Gold Banc.
This allows us to use our local knowledge to provide the very best response to
our customers and our communities. In order to comply with legal
requirements, we will be operating under our existing Gold Bank name, which
many of you already know. This will be the only change visible to our
community. Behind the scenes, we will be able to reduce our administrative
burdens, consolidate operations, and focus, primarily, on providing sales and
service to our valued customers."
This announcement, subject to regulatory approval, follows Monday's press
release in the acquisition of three community banks, First Business Bank of
Kansas City, Missouri, Linn County Bank of LaCygne, Kansas and CountryBanc
Holdings, Inc., Edmond, Okla. Including other previously announced
acquisitions, the definitive agreements announced this week will increase Gold
Banc's assets to approximately $2.75 billion, from $1.28 on September 30,
1999, and its core deposits to more than $2.4 billion, from $967 million on
September 30, 1999.
Gold Banc is one of the country's fastest growing financial services
organizations, using a network of community banks and its newly released
electronic banking capability to deliver the full range of financial products
and services customers require. Gold Banc currently has locations in sixteen
communities. With this week's announced acquisitions, along with the
acquisition of Union Bank of Denver, Colorado and American Bank of Bradenton,
Florida announced earlier this year, the total communities served will be
forty-seven.
Safe Harbor Statement
This news release contains comments or information that constitute
forward-looking statements (within the meaning of the Private Securities
Litigation Reform Act of 1995), which involve significant risks and
uncertainties. Actual results may differ materially from the results
discussed in the forward-looking statements. Factors that might cause such a
difference include, but are not limited to: (1) expected cost savings from
acquisitions cannot be fully realized or realized within the expected time
frame; (2) revenues following the merger are lower than expected; (3)
competitive pressures among depository institutions increase significantly;
(4) costs or difficulties related to the integration of the business of the
organizations are greater than expected; (5) changes in the interest rate
environment reduce interest margins; (6) general economic conditions, either
nationally or in states in which the combined company will be doing business,
are less favorable than expected; and (7) legislation or regulatory changes
adversely affect the businesses in which the combined company would be
engaged.
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, or visit the Gold Banc page on FRB's website
at http://www.frbinc.com
Visit Gold Banc at http://www.goldbanc.com
SOURCE Gold Banc Corporation, Inc.
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Related links:
http://www.goldbanc.com
CONTACT:
J. Craig Peterson, Exec. V.P. & CFO,
craigp@goldbanc.com, or Brian J. Ruisinger, Investor Relations,
brianr@goldbanc.com, 913-451-8050, both of Gold Banc; or General
Information, Mike Arneth, 312-640-6734, marneth@frb.bsmg.com,
Analysts/Investors, Paul Scheeler, 312-640-6742,
pscheele@frb.bsmg.com, and Media Inquiries, Joyce Hanson,
312-640-6756, jhanson@frb.bsmg.com, all of The Financial
Relations Board for Gold Banc Corporation, Inc.
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