The Dodd-Frank Wall Street Reform and Consumer Protection Act was passed by Congress in December of 2009 and signed into law by the President. The Act represents a significant change in the American financial regulatory environment affecting almost every aspect of the nation’s financial services industry. Over the last 18 months, various regulatory agencies created over 243 rules to begin implementation of the changes in sixteen categories in 2011.
CapWest Mortgage Corporation, located in Overland Park will merge into Farmers Bank & Trust Co, na, Great Bend, in July 2011. Such action requires regulatory consent and public notices that may be viewed in the Great Bend Tribune.
Farmers Bank acquired the internet mortgage based company, CapWest Mortgage Corporation, based in Overland Park in 2004.
“CapWest closed over $1 billion in mortgages in 2010 with 94 employees. We look forward to incorporating the assets and personnel into Farmers Bank & Trust,” reported Bank CEO W.R. Robbins.
Farmers Bank & Trust has assets of $650 million and a strong capital account of $71 million. The bank operates nine branches in Kansas and Missouri.