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Year in review, #5: Banking changes PDF Print E-mail
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Written by Staff   
Wednesday, 31 December 2008 08:00
The struggling economy hit the banking industry hard across the country, and Paola was no exception in 2008.

TeamBank in particular has struggled, as it was deemed to be in troubled condition earlier this year after an examination by the Office of the Comptroller of Currency.

In September, Bob Weatherbie, who joined Paola-based TeamBank, N.A., in 1973 and served as chief executive officer of its holding company, Team Financial Inc., for more than a decade, announced his resignation.

The decision came less than two weeks after Team Financial Inc. elected new directors to its board during the continuation of its annual stockholders’ meeting.

Sandy Moll was elected chief operating officer of Team Financial and interim CEO of TeamBank shortly after Weatherbie’s resignation.

Changes also were in store for Paola’s Peoples Bank branch in 2008. The bank was purchased by Patriots Bank of Garnett, and it recently opened under the new name.
Peoples Bank has offices in Miami, Johnson, Franklin and Douglas counties, as well as offices in New Mexico.

Patriots Bank has locations in Garnett, Gardner, Princeton, Richmond, Wellsville and Westphalia. It was founded in 1898 and has other branches and ATMs in Anderson, Franklin and Johnson counties.
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