Published: February 27, 2006
Pulaski Bank Completes Sale of Kansas City, Missouri Branch to UMB Bank, N.A.
Pulaski Financial Corp. (NASDAQ: PULB),
parent of Pulaski Bank, today announced Pulaski Bank completed the sale of
the branch office located at 8442 Wornall Road, Kansas City, Missouri, to
UMB Bank, N.A., Kansas City, Missouri, a wholly owned subsidiary of UMB
Financial Corporation (NASDAQ: UMBF). In the transaction, UMB Bank assumed
$23 million in deposits and acquired the branch's fixed assets and
premises. No loans were transferred as part of the transaction.
William A. Donius, President and CEO of Pulaski, stated, "We are pleased
that the purchaser of our Wornall branch will continue to serve the retail
banking needs of Kansas City customers. We are committed to maintaining
and growing our residential loan production office in Kansas City, which
has become one of the top five lenders in town. The branch sale will allow
us to focus on the rapid expansion of our operations and market share in
the St. Louis metropolitan area."
Pulaski Financial Corp. expects to record a pre-tax gain of $2.5 million,
net of transaction expenses, and an annual reduction in net non-interest
expense of approximately $100,000 as a result of the transaction.
Pulaski Financial Corp., operating in its 84th year through its subsidiary,
Pulaski Bank, serves customers throughout the St. Louis metropolitan and
Kansas City areas. The bank offers a full line of quality retail-banking
products through seven full-service banks. The company's website can be
accessed at http://www.pulaskibankstl.com.
Statements in this news release, which are not historical facts, are
forward-looking statements as defined in the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements, which contain the
words "expects", "intends" and words of similar import, are subject to
numerous risks and uncertainties disclosed from time to time in documents
the Company files with the Securities and Exchange Commission, which could
cause actual results to differ materially from the results currently
anticipated. Undue reliance should not be placed on such forward-looking
statements.
Distributed by Market Wire
Copyright © 2010, MarketWire
Copyright © 2010, NewsBlaze,
Daily News
Tags: ,FinancialServices:InvestmentServices and Trading, FinancialServices:RetailBanking, FinancialServices:CommercialandInvestmentBanking, ,NASDAQ01,NASDAQ01,NASDAQ01,MO,ST. LOUIS, MO