Wink Hartman Sr. and his Vintage Bank have a deal to purchase Peabody State Bank in Peabody for an undisclosed amount, the Wichita Eagle reported late last month.
“It’s a very nice addition,” Hartman was quoted as saying.
Vintage Bank is about a $50 million bank. Peabody Bank is about a $40 million bank.
“The merger will allow the bank to provide more services to current customers, take on new customers, and handle larger lines of credit for the further development of our community,” Peabody Bank president Chuck Good said in a statement.
“We feel that the Peabody State Bank furthers our ability to be a community bank and to service the communities we are in,” Hartman said.
He and his wife, Libba, are the majority shareholders in Vintage Bank Kansas, the bank’s holding company.
They started the bank with the 2012 purchase of Leon State Bank, which was about a $9 million bank.
Vintage Bank currently operates in Wichita, Leon and Conway Springs. It will add the Peabody and Benton communities with its new purchase.
Hartman hopes the deal will be finalized by the end of September following state and federal approvals.
“We’re looking forward to Peabody’s continued growth and prosperity.”
The bank will be rebranded to Vintage Bank.
Hartman said other purchases are a possibility.
“We are presently discussing other opportunities with some other institutions in Kansas.”
Hartman, who is known as an oilman, has been focusing on other things since the downturn in the oil business almost two years ago.
In addition to the bank’s expansion, Hartman continues to expand his Jimmy’s Egg operations, and he says his Chester’s Chophouse & Wine Bar and Lakeside Club are doing well.
This article was written by Carrie Rengers of the Wichita Eagle, and is used with permission.