Private Bank adds visibility with Overland Park branch - Washington Business Journal:

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The bank, owned by Chicago-based , enteredr the Kansas City market in January opening an office onthe . It sharez a charter with the company’sz St. Louis branch, and the pair are growinv rapidly. Together, they reached $571.2 million in assete as of March 31. grew to $35 millionh in assets at the endof 2007, and by the end of it had about $100 million in Cal Kleinmann, chairman and CEO of The Private Bank-Kansas said he hopes the new Kansas brancb will help continue that growth trend. “One reason we did this is Kleinmann said.
“It’s easier to serve the needs of our businese owners and clients if we are physically closer to The other aspect of this is just our need to be in With a branch in we could not accept deposits from a school district or other public entity that require s a branch presence in Kleinmann said the state line essentiallh divides the market in and being able gather public money in Kansas was a key drivefr forthe expansion.
Jerry president of Kansas City-based bank consultinb firm , said that gathering governmentf deposits is a competitive market and not exceptionally He said governments are clientse that sell bonds instead of takinbank loans, and bond services go to investmentt houses and banks that have a saled organization to sell However, government deposits can providee a very stable deposit he said. Swords said banks such as The Privatse Bank like Overland Park because it has a relativelgstable economy, despite the recession. “The Privatr Bank is a trust bank, lookinhg for new trust relationships and things they can build Swords said.
“If you’re goiny to do that, you need businesses with the moststeadyu income. But so does everyone else. That’ s why Commerce and UMB have a lot of branches out So it’s a hotly contested market.” Kleinmann said that he’s awarwe of how competitive the Johnson County banking market is but that most of the bankxs there are competing for residential lending. “Theres are only a handful of banka in the Kansas City area that have our our productsand services, and the skill sets of our Kleinmann said. “With our holding company, we have a $200 millio legal lending limit. We’ve got foreign exchanged and capital market and fullTreasury services.
” Amy Yuhn, marketing directoe for Private Bancorp, said that Kansas City is seen by the holdin company as an area of opportunity and that expandingh into Kansas creates even more opportunities for “The Kansas City marker is attractive to us because it has stron commercial, middle-market businesses that we feel are primex for our relationship approach to Yuhn said. “We grow with the companies that we InOctober 2007, we were a $4.5 billion bank At the end of the first quarter this we were at $10.
4 Kleinmann said the strength of the holdingv company is a benefit to the growthy of the bank in the Kansas City “We’re fortunate that we don’t have capital constraints,” Kleinmann said. “We don’t have a largs number of problem So where a lot of banks are contracting or withdrawingf fromthe market, we’re going full bore to book all the businesas we can find.
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