Thursday, December 11, 2008

Kansas in the news!!! A positive on the lending!!

Not only are interest rates LOW, a KANSAS bank made NATIONAL news for POSITIVE reasons!! I saw this on The Today Show this morning and I heard it was on other shows as well and they will be airing a longer special! Gotta love positive publicity for our area!! - Jodi

CapFed Featured as 'Little Bank that Could'

NEW YORK – Capitol Federal Savings, a Kansas bank with dozens of metro locations, was featured Thursday on “The Today Show" as “one of the banks that got it right.”

“It wasn’t easy,” CNBC’s Erin Burnett told Today host Matt Lauer. “But there were a few.”

Burnett says there are banks across America that didn’t make the colossal mistakes that others made and dubbed CapFed’s story as the “Little Bank that Could.”

Bank chairman John Dicus is the third generation leader of the bank. “I’ve been fortunate to be the third generation to fall in line now behind my father and my grandfather,” Dicus said.

Based in Topeka, CapFed boasts high standards when it comes to lending, and Burnett says they followed them “even things were booming and it seemed nothing could go wrong.”

Dicus says they stayed away from doing the flavor of the month by staying away from subprime mortgages, even with the promise of big money. “So many other institutions that got in trouble were trying to keep up with somebody else and taking on more risk.”

While some of the tanking banks have lost up to three-quarters of their stock value, CapFed stock is up 40 percent.

“What separates Capitol Federal from the pack,” says Mike Shafir of brokerage firm Sterne Agee, “is the fact these guys have a very sustainable business model."

You can see the entire report from "Today" by clicking on the link to the media player: http://www.nbcactionnews.com/mostpopular/story/CapFed-Featured-as-Little-Bank-that-Could/8I8Im60YikaGbJTqy5bMKw.cspx

Posted by: Aaron Heintzelman Email: heintzelman@nbcactionnews.com

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