A proposed bank merger will bring about the end of an era.
The Bank of Commerce, based in Chanute, has applied with the State Bank Commissioner’s Office to merge with Piqua State Bank, which has branches in Gas, Piqua and Yates Center.
If the merger is approved — Bank of Commerce essentially is acquiring PSB — Bank of Commerce branches will remain in Gas and Yates Center.
Piqua State Bank owners previously had announced the Piqua facility will shut its doors for good on June 30.
“Change is always hard for everyone,” said Heather Curry, president and CEO of Piqua State Bank, “but this will be a positive deal for our customers and our employees.”
As part of the proposed merger, the State Bank Commissioner’s office will allow public comment regarding the deal. Details about the merger are in a public notice in Friday’s print edition.
The public comment period will end July 18.
Bank of Commerce has been in the Lair family since it was acquired by the late Virgil Lair in 1985, and operates out of 13 locations across eastern Kansas, including its main branch in Chanute. If the Lair family sounds familiar to Piqua residents, it’s because Virgil Lair was a Piqua native, and helped establish the Piqua Farmer’s Cooperative.
Other Bank of Commerce branches are in Burden, Chetopa, Erie, Fall River, Howard, Longton, Neodesha, Oxford, Parsons and Thayer.
THE PIQUA State Bank was organized in 1910 by L. C. Neimann.
During that same year the Farmers State Bank was opened in Piqua by George Wille. In 1914, the Wille family purchased the Piqua State Bank and merged the two banks under the name of the Piqua State Bank.
John Wille, George Wille’s son, owned and managed the bank for the next 50 years.
The Bank was eventually purchased by Galen L. (Jack) Curry following his retirement from the Army in 1971.
The bank has remained with the Curry family since then, with several family members still employed with PSB.
Heather will remain with Bank of Commerce and manage the Gas and Yates Center branches.
