Equity Bank Makes Play For Bank Of Blue Valley

Wichita-based Equity Bancshares is making a play to acquire the preferred share debt that Blue Valley Ban Corp. accrued through the U.S. Treasury’s Troubled Asset Relief Program.

Kansas City-based bank Blue Valley Ban Corp. borrowed $21.75 million from TARP in December 2008. The preferred shares represent about 54.7 percent of the bank holding company’s total equity.

The shares are not convertible to common stock, but acquiring the debt would allow Equity Bancshares to appoint two of the six directors for the holding company, givingEquity a significant say in the operations of Bank of Blue Valley, Kansas City’s 11th-largest bank.

Read more from the Kansas City Business Journal

Tags:, , ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students