Bank merger adds to The Peoples Bank holdings
The Peoples Bank is pleased to announce their acquisition of The Farmers Bank of Osborne was completed on Friday, February 14, 2020. The Peoples Bank is a Kansas community bank with offices in Pratt, Greensburg, Medicine Lodge, Kiowa, Kingman, Smith Center, and now Osborne and Luray.
“We are thankful to gain locations in these two wonderful communities and we are proud to serve rural Kansas,” said Porter Loomis, President of The Peoples Bank. “Much thought, care and preparation was dedicated over these last several months leading up to the merger date. Our employees have worked together to make this transition as seamless as possible for our customers.”
Customers in the Osborne and Luray communities will continue to be served by the same bankers they have come to know over the years while enjoying some additional services now available through The Peoples Bank. In the lending area, The Peoples Bank offers home real estate loans as well as higher lending limits to allow larger borrowers to keep their full loan in-house. The Peoples Bank also provides a mobile app with fingerprint or facial recognition security features, mobile deposit and an option for internet statement delivery. Debit cards are produced in-house, minimizing the wait time to receive a card. A locally serviced credit card will be offered in the coming months. Additionally, future plans include ATM services.
The Peoples Bank also offers one of the largest non-metropolitan trust departments in the state of Kansas with more than $500 million in assets under management. Customers now have access to Trust, Investment, Retirement and Farm Management services.
Don Koops, Vice President of The Peoples Bank in Osborne stated, “We have enjoyed getting acquainted with and working alongside The Peoples Bank staff. They are a great group of people who are truly dedicated to serving their customers and their community, so this is a great fit for us. We look forward to providing the same quality service we have always taken pride in to all of our individual, agricultural, and business banking clients.”
The Peoples Bank was founded May 20, 1887, in Pratt, Kansas. It operates under its original charter in its original building and uses its original name. As of December 31, 2019, The Peoples Bank had total assets of $369 million, with an active Trust Department holding $547 million in assets. Since 1969, The Peoples Bank has processed its banking business with its own computer systems, offering secure electronic and mobile services to its customers in a user-friendly environment. The former The Farmers Bank of Osborne was founded in 1901 and had total assets of $67 million as of December 31, 2019.