BAXTER SPRINGS — Changes in management and ownership at American Bank in Baxter Springs will begin in the new year. Recently, an application was filed with federal regulators for a change in ownership. The new owners will be Larry Bingham, Ross Hartley, Fred Mitchelson, and Bob Robinson. The bank is presently owned by Larry Bingham, L.C. Neel, and Bob Robinson.
“The bank will remain a state chartered bank,” said Tim Shallenburger, president of American Bank.
The board of directors will also see some new faces. The new board will include Tim Shallenburger, Larry Bingham, Bob Robinson, Cassie Mann, and Lynn Mitchelson. The directors have asked Lynn Mitchelson of Kansas City to be the new CEO. Cassie Mann will be the new president. Current president Tim Shallenburger has accepted a position in Governor Sam Brownback’s administration as a legislative laision. He will also assist on the transition team for the new governor. Shallenburger has previously served 12 years in the state legislature, and one term as state treasurer. He ran for Governor as the Republican nominee in 2002.
According to Shallenburger, the new investors plan to add more capital to the bank. The functions of the bank will remain unchanged.
“The customers will continue to see the same faces,” said Shallenburger.
Mann began her career in baking in 1976 as a secretary to Art Leonhard at American Bank.
“I’m excited to be at a locally owned community bank and looking forward to the challenges ahead. I’m fortunate to the people I’ve been working with as a part of the American Bank team. My number one goal is to maintain our customers trust,” Mann said.