Bank Midwest parent gets $146M from Treasury program - Kansas City Business Journal:

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Kansas City-based Dickinson is the privately owned holding companyfor , and four othe affiliate banks throughout the United The banks have combined assets of abouf $6.1 billion. Bank Midwest had $4.2 billion in assetes on Sept. 30 and a 0.42 percentf return on assets. The bank had $3.3 billionn in net loans and leases asof Sept. 30 and $95.12 million of assets in nonaccruall status. Dickinson said in a release that it intends to use the Treasurhy proceedsfor “general corporate including additional capital to support its lendingv operations across all six of its bankint subsidiaries.
” “We believe that our participation in the Treasury’es Capital Purchase Program is a prudeng step during these uncertain economic times,” Dickinson CEO Rick Smalley said in the release. “This cost-effective capital further strengthensz our solid capital position and will enhance our effort to emerge from this environment as an even strongefrfinancial institution.” Dickinson said in the release that each of its bankws was considered “well capitalized” by regulatoruy guidelines as of Dec. 31. Dickinson also recently entered into an agreementy to sellits subsidiary, based in Tampa, Fla., to NEWS), according to a Jan.
8 news release from The purchase price is contingent on theclosing date, potentia changes in tangible book value and other considerations. Basede on Southern Commerce Bank’s $218 million in assetws on Nov. 30, NewStar said the purchase prics would be somewherebetween $17.5 million and $19 The closing is subjecy to regulatory approvals. Bank Midwest ranks No. 5 on the Kansa s City BusinessJournal ’s list of area banks, based on markeyt share of deposits.