El Dorado bank to open branch in Burns

ORIGINALLY WRITTEN BRENDA CONYERS
Brent Miles, mayor of Burns, has announced that Community National Bank, based in El Dorado, has applied to the Comptroller of Currency for permission to establish a banking facility in Burns.


The facility will be located at 207 N. Washington and will provide full-service banking with a drive-up window and an automated teller machine (ATM).


Plans call for daily service from 9 a.m. to noon. The operation will be manned in part by Burns-area residents Sharon Lefert and Cindy Jackson, according to Steve Waite, president of Community National Bank.


Waite said Miles and the City Commission of Burns had been helpful in preparing to establish the CNB Banking Center at Burns.


Community National Bank opened its banking facility in El Dorado in February 1998 when a group of local investors felt the need to bring community banking back to El Dorado.


The investors purchased interest in Community Bancshares in order to expand their hometown-banking concept to El Dorado.


At that time, CNB had established facilities in Chanute, Humboldt and Girard. They have since expanded to or purchased banks in Frontenac, Pittsburg, Cherryvale, Edna, Neodesha and Parsons.


Ownership of CNB is centered in southeast Kansas.


Waite, prior to working with CNB, spent 12 years as president of Intrust Bank in El Dorado.


Waite said ownership, a local board and the ability to make decisions locally have proven to be the essential elements to CNB growth in Butler and Marion counties.


“It is amazing how many customers we service in the Burns area, and we feel with the loss of their bank there is a need for a full-service banking facility in Burns,” said Waite.


“Our analysis of the demographic information for Burns and Marion county lead us to believe that there is considerable demand for loans for housing, consumer, small business, and agriculture that are not being met locally,” he added.


He also pointed out he felt the presence of CNB in Burns will have a definite and positive impact on the economic well being of the whole area.


Action on the application should occur in the next 30-45 days.


The opportunity for the new bank arose when Cottonwood Valley Bank officials decided not to replace the facility that was destroyed after suffering structural damage earlier this fall.

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