LEAWOOD, Kan., Nov. 13 /PRNewswire/ -- Gold Banc (Nasdaq: GLDB) announced
today that its Board of Directors has declared a cash dividend of 2 cents per
common share. The dividend will be payable on November 23, 1998 to
shareholders of record as of November 18, 1998. The dividend was approved at
Gold Banc's regular quarterly Board of Directors meeting held November 12,
1998.
Status of Previously Announced Acquisitions
On October 21, 1998 the Company acquired First State Bancorp, Inc. of
Pittsburg, Kan., in tax-free exchange of stock valued at approximately $25.0
million. First State Bank & Trust Company, a wholly-owned subsidiary of First
State Bancorp, had total assets of $110.2 million, deposits of $93.4 million
and loans of $62.9 million at June 30, 1998. The transaction was accounted
for as a pooling of interest.
On August 31, 1998, the Company announced a definitive merger agreement
with The Trust Company, a Midwest trust services business headquartered in St.
Joseph, Mo., in a tax-free exchange of stock valued at approximately
$4.3 million. The Trust Company provides trust services and maintains
personal employee benefit and charitable trust accounts for over 1,300
customers throughout the Midwest. At June 30, 1998, The Trust Company had
approximately $250 million in trust assets under management. The transaction
is expected to close in December 1998 and will be accounted for as a pooling
of interest.
On September 2, 1998, the Company announced a definitive merger agreement
with Citizens Bancorporation, Inc. of Tulsa, Okla., in a tax-free stock swap
valued at approximately $56 million. Citizens Bank of Tulsa, a wholly-owned
subsidiary of Citizens Bancorporation, had total assets of $233 million, core
deposits of $214 million and net loans of $164 million at June 30, 1998. On
October 30, 1998, the SEC declared effective the Company's Registration
Statement on Form S-4, which included announcement of a special meeting of
both Gold Banc and Citizens shareholders called for December 9, 1998 to
approve the transaction. The Citizens Bank of Tulsa transaction will be
accounted for as a pooling of interest.
About the Gold Banc Family
Gold Banc is a multi-bank holding company which owns and operates a
growing family of community banks which provide a full range of commercial and
consumer banking services in their respective markets, with each bank
retaining its board of directors, local identity and decision-making
authority. Gold Banc also owns Midwest Capital Management, Inc., a full
service broker/dealer and investment management firm based in Kansas City, Mo.
SOURCE Gold Banc
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Related links:
http://www.goldbanc.com
CONTACT:
Keith E. Bouchey, Exec. V.P. & CFO,
913-451-8050, or e-mail, keithb@goldbanc.com, or Brian J.
Ruisinger, Investor Relations, 913-451-8050, or e-mail,
brianr@goldbanc.com, both of Gold Banc; or Mike Arneth, General
Information, 312-640-6734, or e-mail, mga@chi.frbd.com, Paul
Scheeler, Analysts-Investors, 312-640-6742, or e-mail,
pas@chi.frbd.com, or Bess Gallanis, Media Inquiries,
312-640-6737, or e-mail, 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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