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Despite verbiage in legal filing, Community Bank of Wichita is not selling

  • Have You Heard?
  • Published Thursday, Sep. 20, 2012, at 12:01 p.m.
  • Updated Thursday, Sep. 20, 2012, at 12:29 p.m.

WICHITA — Steve Carr knew before he even looked at the paper this morning that he'd have some questions to answer.

There's a legal notice in today's paper that makes it appear that theater owner Bill Warren and lawyers Mark and Andrew Hutton are buying Community State Bancshares, parent company of Community Bank of Wichita, but that's not the case.

"Nothing's really changing," says Carr, chairman and president. "The bank isn't being sold."

The bank is buying back stock from some stockholders, one of whom died and one of whom got divorced, and was forced to do a public notice about it.

"It's a totally regulatory deal," Carr says.

It's one that he didn't expect, either.

"We said, 'Really? Seriously?'" upon learning there would have to be a notice.

The legal filing says Luxury Development Partners intends to apply for permission to get control of the bank, "and, thus, to become a bank holding company."

Warren and the Huttons are owners of Luxury Development.

(more…)

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