Capital City Bank of Topeka, Kansas sells to Capitol Federal Financial Inc., also of Topeka, Kansas in a $37.5 million deal that creates a combined company with assets of $9.5 billion.
Capitol Federal has been eager to expand its commercial business as the company celebrates its 125th year in Topeka. Capitol Federal has 47 locations in the region. Capital City has 11, with seven in Topeka, three in Lawrence and one in Kansas City.
With more than $9.1 billion in assets, Capitol Federal is about 20 times the size of Capital City. Capital City customers will benefit from the sale through expanded branch locations and with the financial strength Capitol Federal brings give additional comfort to their customer base.
The two banks will have combined assets of $9.5 billion, gross loans of $7.5 billion, deposits of $5.7 billion and an equity position of about $1.4 billion.