TOPEKA, Kan. (AP) - Capitol Federal Savings, the largest bank based in Kansas, says it plans to acquire a Topeka-based bank and expand into commercial lending.
John Dicus, chairman and president of Capitol Federal, said in a news release Monday that it will acquire Capital City Bank. The acquisition is only the second in Capitol Federal’s 125-year history.
The Topeka Capital-Journal reports the $37.5 million deal creates a combined company with assets of $9.5 billion.
Capital City CEO Bob Kobbeman will join Capitol Federal and lead its new commercial banking division.
The acquisition is expected to be completed by the end of October.
Capitol Federal has about 700 employees, while Capital City has about 110.
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Information from: The Topeka (Kan.) Capital-Journal, http://www.cjonline.com
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