Gold Banc (NASDAQ:GLDB)
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Gold Bank, a subsidiary of Gold Banc Corporation, Inc.
(Nasdaq:GLDB) ("Gold Banc"), completed the previously announced sale
of five central Oklahoma branches (El Reno, Enid, Hennessey,
Kingfisher and Oklahoma City).
Olney Bancshares of Texas, Inc. is the purchaser of the five
branches, which will operate as Rose Rock Bank.
Gold Bank has sold 24 rural banks in Kansas and Oklahoma,
including the five branches being completed today, in efforts to
realize its high-growth metropolitan market operating strategy.
"The completion of this sale is yet another step toward
achievement of our long-term strategic goal -- focusing on high-growth
metropolitan markets," explained Mick Aslin, President and Chief
Executive Officer of Gold Banc. "Capital gained in these sales will be
invested in our high-growth markets in Florida and the Kansas City
metropolitan area. We continue to own and operate three Tulsa,
Oklahoma, locations and are pleased with our management team, growth
and prospects in that market."
The combined deposits of the five branches involved in the
completed transactions are approximately $336.7 million, with total
loans of approximately $345.5 million.
"Customers of these sold locations have come to expect a superior
level of service from Gold Bank. We trust that the purchaser will
provide our former customers the same level of quality service,"
concluded Aslin.
Gold Banc will announce second quarter earnings after the close of
business Wednesday July 13, 2005. The quarterly earnings conference
call will be held at 7:30 a.m. CDT, Thursday July 14, 2005 -- dial in
information for the conference call will be included in the earnings
release.
About Gold Banc
Gold Banc Corporation, Inc. is a financial holding company
headquartered in Leawood, Kansas, with over $4.1 billion in assets.
Gold Banc provides banking and wealth management services in Florida,
Kansas, Missouri, and Oklahoma through 33 banking locations. Gold Banc
is traded on NASDAQ under the symbol GLDB.
Forward-Looking Statements
This release contains information and "forward-looking statements"
which relate to matters that are not historical facts and which are
usually preceded by the words "may," "will," "should," "could,"
"would," "plan," "potential," "estimate," "project," "believe,"
"intend," "anticipate," "expect," "target" and similar expressions.
These forward-looking statements are subject to significant risks,
assumptions and uncertainties, including, but not limited to, those
described in the periodic reports we file under the Securities
Exchange Act of 1934 under the captions "Forward-Looking Statements"
and "Factors That May Affect Future Results of Operations, Financial
Condition or Business." Because of these and other uncertainties, our
actual results may be materially different from that indicated by
these forward-looking statements. You should not place undue reliance
on any forward-looking statements. We will not update these
forward-looking statements, even though our situation may change in
the future, unless we are obligated to do so under the federal
securities laws.