Newspaper article THE JOURNAL RECORD

Kansas Nears Approval of Interstate Banking

Newspaper article THE JOURNAL RECORD

Kansas Nears Approval of Interstate Banking

Article excerpt


TOPEKA (AP) - With victory in their sights, supporters of Kansas interstate banking Monday delivered their pitches to lawmakers for what they hope will be one of the last times in the four-decade debate to liberalize banking laws.

``We talk about this as though it were the mother of battles,'' said Gary Sherrer, senior vice president for Fourth Financial Corp. ``The fact is there are so many more serious issues this state faces. We're not plowing new ground.

He told the Kansas Senate Financial Affairs and Insurance Committee that the notion that the bill approved by the House two weeks ago is a Fourth Financial Corp. bill. Fourth Financial owns Bank IV, the state's largest bank.

``We will match our record for involvement in this community and this state against any community bank,'' he said.

The bill would allow banks in six states - Iowa, Nebraska, Colorado, Missouri, Oklahoma and Arkansas - to buy Kansas financial institutions if Kansas banks can buy similar institutions in those states.

Opponents contend the bill would drain capital out of Kansas, reducing the availability of credit for small businesses and consumers. They also say small, community banks would be taken over by large, out-of-state institutions.

The House passed the bill 73-48 earlier this month. Last year, the Senate passed a similar bill. …

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