University Daily Kansan / Friday, April 24, 1987
9
Branch banking law will help urban areas first, officials say
The Associated Press
A new state law that allows banks to buy other banks anywhere in Kansas and operate them as branches may have some unexpected effects on the industry, experts said yesterday.
The prediction came from banking officials attending a public policy symposium at the University of Kansas. They said that the new law probably would have more of an impact in urban areas than in rural areas at first. Big-city banks also will not rush to gobble up smaller, rural banks, they said.
"It will offer a few options to a few banks," said Harold Stones, executive vice president of the Kansas Bankers Association, whose group pushed for the law, signed Tuesday by Gov. Mike Hayden.
The measure, which will take
effect upon its publication April 30 in the Kansas Register, basically allows unlimited branch banking through acquisition.
A bank can take over a failed or failing bank and operate it as a branch, if the acquiring bank is within 100 miles and no one bids to operate the troubled bank independently. The exception also applies only to one-bank towns with a population of less than 3,500.
A bank now can operate only three branches within the corporate limits of the city in which it is chartered with one exception.
Supporters of new law have said it will help keep banking services in small, rural towns. Stones said more than 300 of Kansas' 613 banks are the only banks in their towns.
However, Wilbur Billington, executive vice president of the Federal
Reserve Bank in Kansas City, Mo., said that urban areas probably would be affected first. He said that city banks probably would want to acquire banks in suburbs rather than more troubled counterparts in rural areas.
"Clearly their moves will be the most attractive," Billington said.
Such a move could save on paper, work, labor and overhead costs without affecting services if the banks are close enough together. Stones said.
Stones said that the new law might help rural banks because they could join with other rural banks to form a multi-bank holding company, then designate several banks as branches.
"I expect to see quite a little bit of that." Stones said.
Campus aid award notification to be mailed soon, director says
By a Kansan reporter
The first wave of campus-based student aid awards for next fall should be mailed to students within a week, Jerry Rogers, KU director of student aid, said yesterday.
Students who have applied to the aid office for loans but haven't sent all the necessary information should do so immediately, he said.
"They ought to get on it because sometimes it takes longer than you think," he said.
Campus-based awards will go quickly,he said,and federal Guaranteed Student Loans and Pell Grants soon may be among the few options left for fall financial assistance.
"The limited funds we have are usually gone on the first two runs," he said.
Students who want Pell Grants or GSLs by fall enrollment probably will be out of luck if they don't send financial information packets to American College Testing by July 1, he said.
The financial aid office, which processes applications after they leave ACT, needs to get them to
lenders by Aug. 1 if students hope to receive aid for enrollment, he said
Rogers said that although the number of applications ready to process had increased from 1986, he didn't know how much aid he'd need for financial aid had increased.
The financial aid office is handling the increased paperwork, he said, even though a staff member resigned this month.
"We're hanging in there pretty well," he said.
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Woman starts trek home after ordeal
IOLA — An Idaho woman whose trip to Kansas to visit her sister in lace became an odyssey of blizzards and wrong turns is hoping that a trip home Friday will bring an end to her troubles.
The Associated Press
"I just told my sister I hope they don't hijack the plane — that would be the last straw," Nellie Obendorf, 65, said yesterday, her sense of humor intact.
Her husband, Orville Obendorf, 71, suffered from frostbite after the couple spent 13 days trapped in their car by a succession of Kansas blizzards. He flew to Idaho last week and was hospitalized to a hospital in Caldwell. Nine Obendorf said that his feet were amputated Wednesday.
Orvile Obendor, who was listed in fair condition Thursday at West Valley Medical Center, was hospitalized for several months.
"He seemed to adjust to it real well, he seemed real well," she said after talking with him Wednesday.
She also learned this week of
another setback
"We had a little bad luck. Somebody broke into our house (in Nampa, Idaho) and kind of cleaned us out. As if enough hadn't happened," she said.
Detective Riley Newton of the Nampa Police Department said that a family member reported that some things were taken from the home, but there was no evidence of forced entry.
The Obendorfs were traveling from Nampa to the Iola home of her sister, Georgia Roberts, when they took a wrong turn and became stuck in a blizzard that buried their car up to its roof near Norton.
After a few days in the hospital in Norton, the Obendorff set out again for Iola, about 300 miles to the southeast. They went the wrong way again — heading west
A second blizzard came days later, and the couple was trapped in their snow-covered car until a farmer discovered them April 4. They survived on soda and Girl Scout cookies during the ordeal.
and ran out of gas near Colby. near the Kansas-Colorado line.
KU Amateur Radio
KOKU
Announcing Spring Picnic/ Meeting
Broken Arrow Park 31st and Louisiana
When: Sat., April 25th at 3:30 p.m. Where: Broken Arrow Park
Welcome to those interested in joining the KJ Amaturie Radio Club. Speak with our members about FCC licensing and new frequency allocations. Bring softball equipment, your phone and a lunch bag.
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