It appears as if First National bank of Olathe might return to their roots and once again be just an Olathe bank.
This is a very old bank in Olathe with deep roots in the community and I know it has been the chatter of the Olathe insiders for some time. I wonder what RR Osborne would have to say? I believe it was the first chartered bank in Johnson County in the 1800's.......not sure if that is correct.
Once Kansas City's 11th largest bank they are selling several of their branches and loans to Metcalf Bank as was first reported today by the Star and a couple days ago by the Business Journal. The affected branches are all outside of Olathe.
I'm not a banking expert but this seems like an absolute best case scenario for First National because rumors were they were just waiting everyday to see if they would be seized and taken over.
Talk is that they got in trouble because they got involved in west coast real estate ventures. If you can't run with the big dogs you better stay on the porch.
They hadn't been making loans for some time and of course it is hard to make any money any other way in that business.
I guess they live to fight another day. But maybe just a few more. They still need to raise some significant capital. Maybe this young whipper snapper CEO Brian Roby isn't the big shot he thinks he is? I was at the bank one day meeting with a bank officer and he walked in and interrupted our meeting as if I was nobody. The bank employee I was meeting with stood up and introduced me and he basically continued to pretend like I wasn't even there......you know me.....the customer. Since then I haven't been a big fan of Mr. Roby.
Mr. Roby's manners aside. I hope they make it.
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