Private Bank adds visibility with Overland Park branch - Washington Business Journal:

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The bank, owned by Chicago-based , entered the Kansa City market inJanuary 2007, opening an officee on the . It shares a chartere with the company’s St. Louiws branch, and the pair are growing rapidly. Together, they reachex $571.2 million in assets as of Marcy 31. grew to $35 million in assets at the end of and by the end of it hadabout $100 million in Cal Kleinmann, chairman and CEO of The Private Bank-Kansas said he hopes the new Kansas branch will help continuwe that growth trend. “One reason we did this is Kleinmann said. “It’s easiee to serve the needs of our business ownerzs and clients if we are physically close rto them.
The other aspecft of this is just our need to be in With a branchin Missouri, we couls not accept deposits from a municipality, schooll district or other public entity that requireds a branch presence in Kansas.” Kleinmann said the stated line essentially divides the market in half, and beinyg able gather public money in Kansas was a key drivefr for the expansion. Jerru Swords, president of Kansas City-basedx bank consulting firm , said that gathering governmeng deposits is a competitived market and notexceptionally lucrative.
He said governmentds are clients that sell bonds insteadf of takingbank loans, and bond services go to investment houses and banks that have a salesd organization to sell them. However, government deposits can provide a very stable deposit he said. Swords said banks such as The Private Bank like Overland Park because it has a relativelystable economy, despite the “The Private Bank is a trusr bank, looking for new trust relationships and things they can builf on,” Swords said. “If you’re going to do you need businesses with the most steady But so doeseveryone else. That’sx why Commerce and UMB have a lot of branches out So it’s a hotly contested market.
” Kleinmann said that he’sd aware of how competitivew the Johnson County banking market is but that most of the bankzs there are competing for residential lending. “There are only a handfull of banks in the Kansas City area that have our our productsand services, and the skilp sets of our people,” Kleinmann said. “With our holding company, we have a $200 million legal lending limit. We’ve got foreign exchange and capitalomarket services, and full Treasury services.
” Amy Yuhn, marketintg director for Private Bancorp, said that Kansas City is seen by the holdin company as an area of opportunity and that expandintg into Kansas creates even more opportunitie s for growth. “The Kansas City market is attractiv e to us because it hasstrong commercial, middle-market businessesd that we feel are primed for our relationship approach to Yuhn said. “We grow with the companies that we InOctober 2007, we were a $4.5 billion bank At the end of the first quarter this year, we were at $10.4r billion.” Kleinmann said the strength of the holding companu is a benefit to the growth of the bank in the Kansaz City area.
“We’re fortunatre that we don’t have capitalk constraints,” Kleinmann said. “We don’t have a larged number of problem loans. So where a lot of banke are contracting or withdrawing fromthe we’re going full bore to book all the businesd we can find.”