OKC Financial Briefs August 19, 2003

Article excerpt

Gold Banc has filed an application with the Federal Reserve Bank of Kansas City and the office of the Kansas State Bank Commissioner to merge two of its banking subsidiaries, Gold Bank-Kansas and Gold Bank-Oklahoma.

The surviving entity will be Gold Bank-Kansas, and the charter of the Oklahoma bank will be surrendered, the company said.

Bringing the charters together will be quite beneficial, said Mick Aslin, president and CEO of both Gold Banc and Gold Bank- Kansas. It will allow us to manage more efficiently our liquidity, capital structure and interest rate risk and will help us achieve both operational and reporting efficiencies. There will be some cost savings as well.

The bank said there will be no adverse impact on any employees at either the Oklahoma or the Kansas banks as a result of the merger.

Gold Banc Corp. is a financial holding company with headquarters in Leawood, Kan. The bank has more than $4 billion in assets through its 60 banking offices in Kansas, Missouri, Oklahoma, and Florida.

Bank of Nichols Hills

Bank of Nichols Hills said it has named Nicholas J. Preftakes as chairman of the board.

Pretakes, the president and CEO of Precor Equity Inc. and its subsidiaries, succeeds G.T. Blankenship, who has stepped down as chairman. Blankenship had held the position since the bank opened in May 1996.

Blankenship will continue to have a seat on the bank's board of directors and has been named chairman emeritus. Preftakes has served on the company's board since January 2000.

In addition to the change in the office of chairman, the board of directors of the bank also named Royce G. Bishop as its vice chairman. Bishop has been a board member since the bank's inception and is chairman of Bishop Paving Co.

New insurance offered

Oklahoma Insurance Commissioner Carroll Fisher said new emergency rules have been put in place to grant special licenses to insurance agents that will allow them to sell a new form of insurance for cattle producers.

The Agriculture Revenue Insurance License will allow agents to sell policies offered under an experimental program by the federal government. …