Armed Forces Bank Acquires the Residential Mortgage Operations of KS StateBank
KANSAS CITY, Mo. and MANHATTAN, Kan. (October 26, 2021) – Armed Forces Bank, N.A. and its parent, Dickinson Financial Corporation, have entered into a definitive agreement to acquire the residential mortgage operations of KS StateBank.
Dickinson will further expand and diversify its residential mortgage lending business across the United States. KS StateBank will focus on and continue to increase its commercial banking activities.
About the Deal
The deal is expected to more than double Armed Forces Bank’s residential mortgage lending business. It will add four new loan production offices in Overland Park, Kan.; Manhattan, Kan.; Arizona, and Minnesota.
“We know how important homeownership is to establish financial security, creating wealth, and building community, which is why we are committed to expanding our residential mortgage banking services for all of our clients,” said Paul Holewinski, Chief Executive Officer of Dickinson Financial Corporation.
“We are excited to partner with KS StateBank, a bank like ours that has strong roots in the Midwest, but reach throughout the country that values and embodies trust in banking.”
Mike Daniels, President and CEO of KS StateBank, weighed in. “We very much appreciate the strong contribution and exceptional client service this team has provided, and while we emphasize our commitment to business banking and government finance, we are pleased to offer our residential lending team a path for continued success.”
Armed Forces Bank Is a Full-Service Military Bank
Armed Forces Bank is a full-service military bank committed to serving those who serve since 190. It offers branch locations on 17 military installations throughout the United States. With 114 years experience, Armed Forces Bank provides a first class standard of care. It focuses on military, government personnel and their families across all installations to uphold a consistent customer experience – regardless of location.
Armed Forces Bank has been honored for nine consecutive years as “Distinguished Bank of the Year” by at least one branch of service. (Army, Air Force and/or Navy).
The transaction is expected to close in the fourth quarter 2021.
About Armed Forces Bank
Armed Forces Bank, headquartered in Fort Leavenworth, Kansas, is a full-service military bank. Committed since 1907 to serving those who serve, its mission is to provide quality financial products and services tailored for active and retired military personnel and their families in all 50 states and around the world.
Armed Forces Bank has more on-base locations than any military bank in the country with 23 locations. It is a wholly-owned subsidiary of Dickinson Financial Corporation, a $3.5 billion bank holding company headquartered in Kansas City, Mo.
Armed Forces Bank’s sister bank is Academy Bank. Academy Bank is a full-service community bank with over 80 branch locations in Arizona, Colorado, Kansas and Missouri. For more, visit http://www.afbank.com
About KS StateBank
KS StateBank is a full-service commercial bank committed to excellence in banking and building trust in every relationship. Its experienced bankers work hard to earn and keep its clients’ trust with the promise of exceptional service. The Bank takes pride in being financially strong, nimble and responsive to its client’s banking needs.
KS StateBank has offices in Manhattan and Wichita, Kansas and Phoenix/Scottsdale, Arizona. Its parent company, Manhattan Banking Corporation, is a family-owned company headquartered in Manhattan, Kansas with assets of $2.3 billion.