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Kendall State Bank Overland Park Branch Merges With Sylvan State Bank

OVERLAND PARK, KS-A newly formed bank holding company completes a transaction that includes purchasing the Kendall branch at 135th Street and Nieman Road in Overland Park for $1.7 million.

By Judie Burkhalter | Updated on February 01, 2001

OVERLAND PARK, KS-The Overland Park branch of Kendall State Bank and Sylvan State Bank of Sylvan Grove, KS have been purchased and merged into one by 1st Financial Bancshares Inc., a holding company. The new bank, called 1st Financial Bank, has about $30 million in assets.

The new bank will move into a new facility next to the existing branch office within the month. According to the Federal Reserve Bank in Kansas City, about $2.5 million was used to acquire Sylvan State Bank and another $1.7 million was needed to purchase the Kendall branch at 135th Street and Nieman Road in Overland Park. Sylvan State Bank has about $15 million in assets.

The customer base at 1st Financial Bancshares will be aimed at businesses with annual sales of up to $25 million. The bank holding company was formed by Thomas Bishop Jr. and another investor. Last year, the company raised about $7.5 million through the sale of common stock.

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