American State Bancshares Inc., the parent company of American State Bank and Trust Company, Great Bend, has been ranked as the state’s 12th largest financial institution in terms of total deposits, according to a report by SNL Financial Services, a financial information firm. SNL survey reflects deposits at all banks and holding companies in Kansas.
By the end of 2012, American State Bancshares had total consolidated assets of $686 million with four banking charters and 15 locations in central and western Kansas. In addition to American State Bank and Trust, American State Bancshares’ commercial banking subsidiaries include People’s Exchange Bank, Rose Hill Bank and First National Bank of Holcomb.
Don LacKamp, president and chief executive officer, explained that the growth in assets means the ability to assist larger loan customers without having to send loans away to larger, regional banks. “This also gives American State a larger capital base in order to support future growth opportunities,” he said.
American State Bancshares has a goal to become a $1 billion dollar financial company by the end of 2016. However, LacKamp emphasized that financial growth does not take the bank’s focus away from personal service and customer satisfaction which are hallmarks of each bank charter.
American State Bancshares has locations in Augusta, Belleville, Clyde, Concordia, Garden City, Great Bend, Holcomb, Larned, Macksville, Rose Hill, St. John and Wichita.