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Despite verbiage in legal filing, Community Bank of Wichita is not selling
09/20/2012 12:29 PM
09/20/2012 12:29 PM
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.
About Carrie Rengers
Carrie Rengers joined The Eagle's Business team in 2002 despite her inability to even balance a checkbook. Fortunately for her, and readers, her Have You Heard? blog is about business scoops and contains lots of news but almost no math.
A Michigan native, Carrie’s father was quite tragically transferred to Little Rock, Ark., in the middle of her sophomore year of high school. To make matters worse, her parents put her in a girls school. She recovered, though, and went on to enjoy being an English major at Hendrix College (the Harvard of the Ozarks, don’t you know). She worked for the weekly Arkansas Business and the statewide daily Arkansas Democrat-Gazette before moving to Wichita to be with her favorite writer and cook, husband Joe Stumpe.
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