TOPEKA, Kan. (KSNT) –Kaw Valley Bancorp, Inc. of Topeka announced Wednesday that they have entered into an agreement for the sale of Kaw Valley Bancorp and Kaw Valley Bank to Topeka Bancorp, Inc., a Kansas bank holding company in formation.
CEO of Kaw Valley Bank Gerald Lauber states that this is a good fit for the bank, its customers, employees and the community of Topeka.
“The proposed new owners have good experience with community banking and they understand the importance of a bank to the community.”
The new owners say they plan to keep Kaw Valley as an independent, Topeka based bank with local management as opposed to becoming branches of a larger organization.
“This was an important factor in considering their proposal.”
Lauber will continue as President of the bank and says the buyers are committed to their relationship oriented style of doing business.
“We look forward to working with them to provide a seamless transition for our customers.”
The sale is subject to regulatory approval and is expected to be completed during the summer of 2017.