Fourth Financial Corporation
Encyclopedia
Fourth Financial Corporation was a Wichita, Kansas
bank holding company that was the largest and one of the oldest banks in Kansas
as well as a dominant bank in Oklahoma
when it was bought by Boatmen's Bancshares
for $1.2 billion in stock in 1995.
Fourth National Bank of Wichita was founded by George C. Strong in 1887.
It became Fourth Financial in 1968. In 1982 it began an aggressive expansion after state banking laws were relaxed allowing it to buy interest in other banks. It bought the maximum shares in five cities of more than 10,000 near college
s. In the strategy it became the biggest bank in the state in 1986 when it was allowed to totally take over its banks. It renamed its banks—Bank IV.
Between 1985 and 1990 the bank under Jordan L. Haines and Ron Baldwin bought 24 banks—one every 75 days topping off at one a month when it began acquiring troubled Savings and loan association
s during the Savings and Loan Crisis
in 1990. Among the S&L's purchased was Anchor Savings.
In 1990 just as it was approaching the limits it could control in Kansas, legislation permitted it to expand to other states and it began acquiring banks in Oklahoma under the Bank IV Oklahoma subsidiary.
Boatmens acquired it in 1995. At the time it had $8 billion in assets and offices in 80 locations.
Wichita, Kansas
Wichita is the largest city in the U.S. state of Kansas.As of the 2010 census, the city population was 382,368. Located in south-central Kansas on the Arkansas River, Wichita is the county seat of Sedgwick County and the principal city of the Wichita metropolitan area...
bank holding company that was the largest and one of the oldest banks in Kansas
Kansas
Kansas is a US state located in the Midwestern United States. It is named after the Kansas River which flows through it, which in turn was named after the Kansa Native American tribe, which inhabited the area. The tribe's name is often said to mean "people of the wind" or "people of the south...
as well as a dominant bank in Oklahoma
Oklahoma
Oklahoma is a state located in the South Central region of the United States of America. With an estimated 3,751,351 residents as of the 2010 census and a land area of 68,667 square miles , Oklahoma is the 28th most populous and 20th-largest state...
when it was bought by Boatmen's Bancshares
Boatmen's Bancshares
Boatmen's Bancshares Inc. was one of the 30 largest bank holding companies in the United States when it was acquired by NationsBank in 1996.The company, founded in St. Louis, Missouri in 1847, claimed to be the oldest bank west of the Mississippi River at the time of its acquisition.The bank was...
for $1.2 billion in stock in 1995.
Fourth National Bank of Wichita was founded by George C. Strong in 1887.
It became Fourth Financial in 1968. In 1982 it began an aggressive expansion after state banking laws were relaxed allowing it to buy interest in other banks. It bought the maximum shares in five cities of more than 10,000 near college
College
A college is an educational institution or a constituent part of an educational institution. Usage varies in English-speaking nations...
s. In the strategy it became the biggest bank in the state in 1986 when it was allowed to totally take over its banks. It renamed its banks—Bank IV.
Between 1985 and 1990 the bank under Jordan L. Haines and Ron Baldwin bought 24 banks—one every 75 days topping off at one a month when it began acquiring troubled Savings and loan association
Savings and loan association
A savings and loan association , also known as a thrift, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans...
s during the Savings and Loan Crisis
Savings and Loan crisis
The savings and loan crisis of the 1980s and 1990s was the failure of about 747 out of the 3,234 savings and loan associations in the United States...
in 1990. Among the S&L's purchased was Anchor Savings.
In 1990 just as it was approaching the limits it could control in Kansas, legislation permitted it to expand to other states and it began acquiring banks in Oklahoma under the Bank IV Oklahoma subsidiary.
Boatmens acquired it in 1995. At the time it had $8 billion in assets and offices in 80 locations.