Quantcast

Commercial Bank to purchase banks in Caney, Coffeyville and Inde - KOAM TV 7

Commercial Bank to purchase banks in Caney, Coffeyville and Independence

Updated:

NEWS RELEASE ISSUED BY COMMERCIAL BANK

COMMERCIAL BANK SIGNS DEFINITIVE AGREEMENT TO ACQUIRE THREE SOUTHEAST KANSAS BANK BRANCHES

Feb. 26, 2014 – Commercial Bank announced today that it has entered into a definitive agreement with Bank of America Corporation (NYSE:BAC) to assume the deposits and acquire certain assets of three branches located in Independence, Coffeyville and Caney, Kansas.

Matthew Sutherland, Vice President of Commercial Bank in Independence shared his excitement by stating, “In our 140th year of commitment to the community, we are pleased to announce our intent to acquire the locations in Independence, Coffeyville and Caney. We look forward to welcoming new customers and introducing them to our high level of personal service and community focused banking.”

The acquisition, which is subject to approval from banking regulators, shareholders and other customary closing conditions, is expected to be completed sometime this summer. The growth of Commercial Bank through the addition of these new locations will result in more convenient banking options for customers and neighboring communities.

Commercial Bank President, Philip Eaton, notes, “This acquisition adds to our strength as a bank and our commitment to our employees, customers and communities. We look forward to welcoming new employees and customers, and are confident they will continue to thrive under our community banking principles and personal service.”

Current customers with accounts assigned to the above mentioned locations do not need to take any action at this time, and can continue to use current checks, debit cards and other products and services.

Commercial Bank currently operates seven banking facilities in five southeast Kansas communities, including three branches in Parsons, and one each in Erie, Oswego, Independence and Chanute. Founded in 1874, Commercial Bank is a full service bank and is consistently rated one of the strongest, most stable banks in Kansas. In addition to providing consumer and business banking services, Commercial Bank also provides trust services, wealth management, and owns Commercial Insurance Agency, an independent agency with locations in Independence, Parsons and Oswego.

Commercial Bank is part of a group of banks owned by the Sutherland Family. The Sutherland family owns banks in Salina, Emporia, Hoisington and Parsons with branches in Chanute, Erie, Independence, Oswego, Ellsworth, McPherson, Abilene, Claflin and Great Bend, Kansas. As a group they are acquiring ten Bank of America branches in Great Bend, Hays, Lindsborg, McPherson, Caney, Coffeyville, Independence, Hutchinson, Salina and Emporia which will increase their total assets to approximately $1.1 Billion.

Commercial Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For more information, including banking hours, feel free to visit the Bank's website at www.commercialbank.net.

# # #

  • Local NewsMore>>

  • PSU Student Takes Her Research to the Capital

    PSU Student Takes Her Research to the Capital

    Friday, February 23 2018 7:24 PM EST2018-02-24 00:24:09 GMT
    "It's just listening to the birds, what ever you see..record it. And record the location of where you're at. And it's just really really beautiful to see the sun rise" PSU Senior, Kelly Mallatt wasn't just bird watching. She spent her summer waking up before dawn, researching the plants and birds at 22 different spots in Tar Creek. "We were standing in one spot and if we heard or saw a bird, we would record what we heard or saw and we would do that three times in t...More >>
    "It's just listening to the birds, what ever you see..record it. And record the location of where you're at. And it's just really really beautiful to see the sun rise" PSU Senior, Kelly Mallatt wasn't just bird watching. She spent her summer waking up before dawn, researching the plants and birds at 22 different spots in Tar Creek. "We were standing in one spot and if we heard or saw a bird, we would record what we heard or saw and we would do that three times in t...More >>
  • City of Neosho Reaches Settlement With Veterans Group

    City of Neosho Reaches Settlement With Veterans Group

    Friday, February 23 2018 7:15 PM EST2018-02-24 00:15:58 GMT

    "It was a black eye on Neosho," says Neosho's mayor.

    More >>

    "It was a black eye on Neosho," says Neosho's mayor.

    More >>
  • 33rd Annual Golden Apple Nominees

    33rd Annual Golden Apple Nominees

    Friday, February 23 2018 5:58 PM EST2018-02-23 22:58:14 GMT

    The Joplin Area Chamber of Commerce is pleased to announce that 62 nominations were received nominating 54 Joplin educators for the 33rd Annual Golden Apple Awards.  For over 30 years, the Golden Apple Awards have recognized excellence in the teaching profession and informed the public of the exceptional quality of instruction in the Joplin community! These individuals were nominated by students, parents and peers in the Joplin public and private schools.  All nominees and t...

    More >>

    The Joplin Area Chamber of Commerce is pleased to announce that 62 nominations were received nominating 54 Joplin educators for the 33rd Annual Golden Apple Awards.  For over 30 years, the Golden Apple Awards have recognized excellence in the teaching profession and informed the public of the exceptional quality of instruction in the Joplin community! These individuals were nominated by students, parents and peers in the Joplin public and private schools.  All nominees and t...

    More >>
Powered by Frankly

KOAM - Licensed to Pittsburg, Kansas
Send tips, ideas and press releases to: tips@koamtv.com
Send newsroom questions or comments to: comments@koamtv.com
Phone: (417) 624-0233 or (620) 231-0400
Web comments or questions: webmaster@koamtv.com
Newsroom Fax: (417) 624-3158

Powered by WorldNow All content © Copyright 2000 - 2018 KOAM. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.