Organized and developed investors for a newly chartered bank in Johnson County. Responsible for charter application, initial location real estate acquisition, and staffing. Opened for business on December 18, 1989.
The organization developed from its initial asset base $2,150,000 to an organization with total assets of $650,000,000, total loans of $400,000,000, and total deposits of $450,000,000.
The bank was initially capitalized at $2,150,000 with approximately 50 shareholders. The bank initiated a secondary offering in 1993 raising an additional $2,000,000 to assist in the construction of our principal building location at 119th & Metcalf. Over the succeeding years the bank has successfully marketed three trust preferred offerings totaling $18,000,000. The total capital of the bank holding company has expanded from its $2,150,000 initial capital base to in excess of $60,000,000. In 2000, in conjunction with its first trust preferred offering, the bank became an SEC reporting company. In July of 2002 the bank’s common stock was listed on the Over the Counter Bulletin Board under the symbol BVBC. The bank was a recipient of a preferred stock investment by the US Treasury Capital Purchase Program in 2008. The TARP investment was retired in October 2013.
The bank initially began its operations in a doublewide mobile home at the intersection of 119th & Metcalf. Over the years the bank has expanded to six locations. The bank developed its 38,000 sq.ft. headquarters building at 119th & Metcalf in 1994. In the second quarter of 1994 the bank expanded into Olathe with the purchase of an existing facility at Santa Fe & Ridgeview. The bank opened a branch in Shawnee at the intersection of Johnson Drive & K-7 Hwy in the second quarter of 2000. The bank expanded into Leawood at the intersection of 135th & Mission Road in the first quarter of 2001. In the second quarter of 2001 the bank purchased a branch of a competing bank and consolidated our Olathe branch into that facility. In the first quarter of 2003 the bank purchased a 55,000 sq.ft. building at the corner of College & Lowell to house its expanded mortgage operations. In the second quarter of 2007 the bank purchased Western National Bank and established a facility at 95th & Lackman.
When the bank opened its doors in 1989 it employed four officers and four non officer employees. As the organization has grown it has expanded to over 60 officers and 200 employees operating within four operating divisions.
From its initial beginnings the bank was an active residential real estate lender and that business expanded dramatically in 2001 with the acquisition of the Internetmortgage.com domain name. The bank has expanded its residential real estate lending area to a total of over 100 employees. In calendar 2003 the bank initiated in excess of 7,500 loans totaling over $1.5 billion in long term mortgage loans. The Internetmortgage.com domain name has become a very well established national mortgage lending resource.
Over the years the bank has been successful in blending growth with financial performance. The bank was recognized by Ingram’s Magazine as one of the fastest growing companies in Kansas City in 1996 through 2004.