Gold Banc (NASDAQ:GLDB)
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Gold Banc Corporation, Inc. (Nasdaq:GLDB) (Gold Banc)
announced today that it received an order in the case of Wayne E.
Janzen, et al., vs. Gold Banc Corporation, Inc., et al., pending in
Kingfisher County, Oklahoma.
As previously described in Gold Banc's Form 10-Q for the quarter
ended March 31, 2005, the plaintiffs in this case allege that Gold
Banc's subsidiary bank violated Farm Service Agency (FSA) regulations
by charging interest rates and fees on FSA guaranteed agricultural
loans higher than the interest rates and fees it charged its average
agricultural customers. The court's order certified the case as a
class action covering "those agricultural customers who obtained a FSA
guaranteed loan between January 1, 1999 to February 29, 2004."
Malcolm M. Aslin, Chief Executive Officer of Gold Banc, stated,
"We disagree with the court's decision and plan to immediately appeal
the class certification order."
Oklahoma law allows a defendant or a plaintiff to immediately
appeal a class certification order instead of at the conclusion of the
case. "We continue to believe Gold Banc has valid defenses to the
plaintiffs' claims and intend to vigorously defend this lawsuit,"
continued Aslin.
Gold Banc previously announced that on January 26, 2005, the
Federal District Court for the Western District of Oklahoma granted
Gold Banc's motion to dismiss a proposed class action case filed by
H.D. Young, et al. against Gold Banc, GBC Kansas, Inc. and Gold Bank,
which involved similar claims regarding its FSA guaranteed loan
program. On February 2, 2005, the same plaintiffs whose federal claims
were dismissed re-filed their claims in the District Court for Washita
County, Oklahoma. On May 19, 2005, the District Court for Washita
County, Oklahoma, granted Gold Bank's motion to dismiss with prejudice
the state case, which order is subject to confirmation in a written
order by the court and may be appealed by the plaintiffs.
About Gold Banc
Gold Banc Corporation, Inc. is a financial holding company
headquartered in Leawood, Kansas, with over $4.4 billion in assets.
Gold Banc provides banking and wealth management services in Florida,
Kansas, Missouri, and Oklahoma through 38 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.