Bank merger decision due in June for Lawrence banks
Johnson County based MidAmerican Corp chair Richard King expects federal regulators to decide in June whether the plan to merge Lawrence National Bank into First National Bank of Lawrence will proceed. The deal would boost First National assets to about 210 million and could close in July after a 30 day waiting period. The Justice Department has raised antitrust concerns centered on commercial lending and market impact on small business finance. King cites ongoing regulator input and says the banks expect approval on schedule.
MENTIONED IN THIS ARTICLE
Lawrence National Bank
Richard King
Johnson County
LNB
First National
King
MidAmerican
Federal Reserve Bank
Washington, D.C
U.S. Department of Justice
Justice Department
First National Bank
Midland quotes show grain prices and market slide
Morning stock and commodity notes report Midland Elevator in Lawrence listing Wheat 3.59 corn 2.57 soybeans 6.11 and mile 4.32. The New York market fell after Olympia & York filed for bankruptcy protection, with the Dow down 13.50 to 3355.38 as volume and declines increased. Kansas feedlot reports show cattle and steer prices mixed, with slaughter figures for the week and regional price ranges, while Missouri hog and cattle quotations reflect uneven movement and declines in several grades.
MENTIONED IN THIS ARTICLE
Midland
Lawrence
New York
Olympia & York
Bet
Wall Street
New York Stock Exchange
American Stock Exchange
Kansas
Metro North Bank Faces Major Real Estate Loan Risk
Kansas City officials and bankers dispute a New York banking journal claim that Metro North State Bank has the greatest exposure to commercial real estate loans among large U.S. banks. The bank, part of Frank Morgan’s KanCity banking group, faced a depositor run but regulators say it is not in danger. Other Morgan banks Merchants Bank and Security Bank also show large exposure but with fewer loans.
MENTIONED IN THIS ARTICLE
Kansas City
Metro North State Bank
American Banker
New York
Metro North
Kanass City
Frank Morgan
Morgan Banks
Merchants Bank of Kansas
125 RTC jobs to Overland Park shift amid bailout
The Resolution Trust Corp will add 125 temporary jobs in Overland Park by November, boosting local payroll to about 5 million as Tulsa Minneapolis and Chicago offices close. Work shifts to the Kansas City suburb while RTC winds down by December 31 1996. Kansas City HQ for the North Central region covers 23 states and controls 28 percent of seized assets.
MENTIONED IN THIS ARTICLE
Overland Park
Resolution Trust Corp
Tulsa
Okla
Minneapolis
Chicago
Kansas City
RTC
North Central
Megadeveloper Olympia & York Files for Bankruptcy
Olympia & York Developments Ltd, the world’s largest developer, seeks protection in Canada and the United States as it battles more than 26 billion dollars in debt. The move involves holdings from Manhattan’s World Financial Center to towers in London and Dallas, signaling a sharp downturn in the global property market. Four Canada based entities filed Chapter 11 petitions in New York.
MENTIONED IN THIS ARTICLE
London
Olympia & York
Canada
United States
Manhattan
World Financial Center
Dallas
Olympia & York Developments Ltd
Pe Company
Olympia Workvelopments Ltd
New York
Money growth dims chances for rate cut
Money growth surges in the week ended May 4, lifting M-2 above 2.5 percent and dimming odds of any Fed rate cut before early June. Analysts note the jump reduces the likelihood of earlier easing, despite prior weak money growth cited by the Fed.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Bard
Fed
David M. Jones
Aubrey G. Lanston & Co
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Gwyn Mellinger
Robert F. Brozman
Brozman
Jayhawk Bancshares
Hanon
York
Oh Kaulbh
Lilly
Ashok Ty
Bos Ie
Beverly
Mobil
Ant Nike
Owen
Compa Ma
Digitet
Sears
DuPont
Kodak
Texaco
WalMart
Wilanes
Kansas City, Mo
St. Joseph Livestock
ST. Joseph
Omaha
Omaha, Neb
USDA
U.S
Yaar
Allied
Fleming MC
Hercules
Fourth Financial
HORL
Kmart
Kroger
Jcpenney
Sage
Seafield
Wal-Mart
Western
Western Resources
Woolworth Am
In & Ruth Lingn Owhean
All Sharp & Panasonic
College Grads
Orde
Sonny Hill
Honda Toro
Lawn-Boy
Snapper
Jacabsen
Echo Stihl
New Hampshire
Megadeveloper
First Canadian World Financial Place Center
Scotts Plate
Park Ave
Ave
Amartons
Millon
Liberty Place
Canis
Dales
Bryan St
N.Y. Times News Service
Journal-World
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