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First National Bank to acquire two Peoples Bank locations in Ottawa

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Written by Doug Carder

Wednesday, 13 May 2009 08:00

First National Bank of Louisburg plans to acquire two Peoples Bank locations in Ottawa.

The transaction is anticipated to become effective this summer, pending regulatory approval, officials from both banks announced Monday.

First National Bank, with locations in Louisburg and Stilwell, has $13 million in capital and will increase its assets to about $150 million with the addition of the two Ottawa locations, according to a news release. First National has a five-star rating from Bauer Financial Services Inc., the highest rating a bank can receive.

Wint Winter Jr., Peoples Bank chief executive officer and president, said this transition helps support Peoples Bank initiatives in other markets by providing additional capital and management focus.

“Ottawa and Franklin County will always be in the roots of the Winter family, and we thank everyone who has banked and worked for us over the years,” Winter said.

Peoples Bank is a part of Peoples Inc., which has 25 branches in Kansas, Colorado and New Mexico. The company is controlled by the Winter family, and Peoples has more than $50 million in capital and about $600 million in assets, according to the release.

For First National, the acquisition of the two Ottawa locations will be like a homecoming for several staff members, bank Chairman Joe McLiney said.

“Our president, Bob Nauman, is a graduate of Ottawa University and has family ties that reach back more than 90 years. Our chief lending officer, Roger Maxwell, is an Ottawa native with over 17 years of local banking experience; Dan Bonine, our senior executive officer, was born and raised in Ottawa, and Daryl Flager is returning to serve as our senior credit adviser,” McLiney said.

“The combination of our team with the talented group of long term, existing officers and staff will help the Ottawa community continue to grow and succeed,” he said.

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