GREAT AMERICAN BANK ABSORBS LONE SUMMIT
Great American Bank in De Soto, Kansas has completed its acquisition of Lone Summit Bank effective November 30, 2012. Great American Bank assumed all assets of Lone Summit Bank including the branch location at 12418 South 7 Highway in Lake Lotawana, MO. Great American Bank now has 3 locations in the Kansas City area and total assets of $83MM. Travis Hicks, President and CEO, stated, “With Great American Bank’s record of strong earnings and capital, the bank will continue to look for opportunities to expand throughout the market.” Great American Bank was purchased by First Financial Bancshares of Lawrence, KS in July of 2008, at the time it was a $30MM bank. In September 2009, Great American Bank acquired the former First Bank of Kansas City at 39th and Main from the FDIC. Great American Bank has been one of the fastest growing and most profitable banks in the Kansas City market over the last 4 year period. First Financial Bancshares, Inc. is a 2 bank holding company, and also owns Lawrence Bank, which has 2 locations in Lawrence, KS. The combined banks give First Financial approximately $155MM in consolidated assets.
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