The chief executive of Legacy Bank admits his family owned bank is “aggressive.”
But Frank Suellentrop said he sees the bank’s loan activity and high loan-to-deposit ratio as serving a broader purpose, to “look for ways to reinvest back into the community.”
“We’re confident we’ve done our homework, analysis” when it comes to Legacy making commercial and development loans, Suellentrop said.
Suellentrop is the bank’s fourth-generation leader.
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The bank’s roots date to 1886 when it was started by a group of investors in Colwich and called Bank of Colwich. In 1911, Suellentrop’s great-grandfather and grandfather, who were in the mercantile business, became majority shareholders of the bank, according to the bank’s website. Over the years, the Suellentrop family oversaw a number of changes, including the name of the bank. Now, in addition to Frank Suellentrop, Frank’s son, Steve, works at the bank, as does a brother-in-law and nephew.
The bank operates six branches from its headquarters at 3711 N. Ridge, in northwest Wichita, and has about 80 employees.
Its one and only acquisition came in 2012, when it bought the former Alliant Bank in Sedgwick.
The bank has been successful in growing its business in recent years. According to data from the Federal Deposit Insurance Corp., Legacy has grown its assets 11.5 percent in the past three years, to $296 million at the end of 2014.
Brad Yaeger, Legacy’s executive vice president, said the bank tries to distinguish itself from its myriad competitors in the area by “thinking outside the box” when it comes to lending money to area businesses and real estate developers.
“We try and be a little more creative in finding a financing solution,” he said.
Yeager said he’s stayed at the bank for 28 years because he likes the environment the Suellentrop family has created.
The bank cares about its employees, Yaeger said, and it does a good job “of helping (customers) grow their business.”
“It’s family here, and it’s worked out well,” Yaeger added.
Suellentrop said he’s confident about the direction the bank is headed as well as its reputation.
“We know we are a good community bank and partner,” Suellentrop said.
Name of Business: Legacy Bank
Year Founded: 1886
Owner: Suellentrop family
Address: 3711 N. Ridge
Phone number: 316-260-3711