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Curtis bank changing hands
CURTIS, Nebraska -- John Wilkinson, CEO of the Curtis State Bank, has announced that his family is selling a majority interest in the bank to the investment group, Western Investment Group, LLC. No terms were disclosed.
The Wilkinson family has owned the bank for three generations, with John coming on board 33 years ago. He has served as president of the bank for 25 years, relinquishing that position to Curtis Heapy at the first of the year.
With no one in the family wanting to follow in his footsteps, Wilkinson was nevertheless committed to keeping the bank locally owned.
"This is a good fit for our community and for our bank," he stated.
Wilkinson will remain as the bank's CEO-CFO and Heapy will continue to serve as president.
Mike Kelly of Sutherland, Nebraska will be the Board Chairman of Western Investment Group, LLC. Three of the current bank board members will remain -- Wilkinson, Heapy, and Carol Hanes.
New board members will be Mike Kelly and Ken Niedan of Hershey. Both have extensive bank experience.
There are no planned changes to any of the current bank staff. Wilkinson and Kelly describe Western Investment Group as a small group of investors with strong backgrounds in agriculture and bank management. Investors in Western Investment Group, LLC include John Wilkinson, Curtis Heapy, Mike Kelly and Ken Niedan.
John Wilkinson and his family believe the change insures the bank stays locally owned and managed. "CSB needs to remain an independent bank with community ownership, goals and ambitions -- not a branch bank owned by outsiders with unrelated interests. This is a positive and exciting change. Mike Kelly and his investment group are a great fit."
The Wilkinson family has owned the bank for three generations, since the early 1940s, and the bank will celebrate its 100th Anniversary on Dec. 24, 2010.
Western Bancshares, Inc. has filed an application with the Federal Reserve Bank seeking approval of the ownership transfer.