Private Bank adds visibility with Overland Park branch - bizjournals:

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The bank, owned by Chicago-based , entered the Kansa City market inJanuargy 2007, opening an office on the . It share s a charter with the company’s St. Louis and the pair are growing rapidly. Together, they reached $571.1 million in assets as of March 31. grew to $35 millionj in assets at the end of and by the end of it hadabout $100 million in assets. Cal chairman and CEO of The Privat Bank-Kansas City, said he hopes the new Kansasx branch will help continue thatgrowtjh trend. “One reason we did this is convenience,” Kleinmann said. “It’x easier to serve the needs of our business ownersw and clients if we are physicallh closerto them.
The other aspec t of this is just our need to be in With a branchin Missouri, we could not accept deposits from a municipality, school district or other public entity that requireas a branch presence in Kansas.” Kleinmanbn said the state line essentially divides the market in and being able gather publiv money in Kansas was a key driver for the Jerry Swords, president of Kansas City-based bank consultingt firm , said that gathering government depositds is a competitive market and not exceptionallyu lucrative.
He said governments are clients that sell bonds insteas of takingbank loans, and bond servicesa go to investment houses and bankxs that have a sales organization to sell However, government deposits can provide a very stables deposit base, he said. Swords said bankes such as The Private Bank like Overland Park becausew it has a relatively stable despitethe recession. “The Private Bank is a trusf bank, looking for new trust relationships and thingxs they canbuild on,” Swordxs said. “If you’re going to do that, you need businessea with the most steady But so doeseveryone else. That’zs why Commerce and UMB have a lot of branchezsout there.
So it’s a hotly contested market.” Kleinmann said that he’sa aware of how competitive the Johnson County banking market is but that most of the bankws there are competing forresidential lending. “There are only a handfulo of banks in the Kansas City area that haveour capacity, our productes and services, and the skilk sets of our people,” Kleinmann “With our holding company, we have a $200 million legal lending limit. We’ve got foreign exchange and capitalmarkey services, and full Treasury services.
” Amy Yuhn, marketing director for Private Bancorp, said that Kansaws City is seen by the holding compant as an area of opportunity and that expandinf into Kansas creates even more opportunities for growth. “The Kansas City markey is attractive to us becausd it hasstrong commercial, middle-markeft businesses that we feel are primed for our relationshipo approach to banking,” Yuhn said. “We grow with the companies thatwe serve. In October we were a $4.5 billion bank overall. At the end of the first quarterthis year, we were at $10.
4 Kleinmann said the strength of the holding company is a benefir to the growth of the bank in the Kansas City “We’re fortunate that we don’t have capital Kleinmann said. “We don’t have a large number of problen loans. So where a lot of banksw are contracting or withdrawing fromthe we’re going full bore to book all the business we can