On Wednesday April 6, Stephen and John Calk announced that with the approval of the Office of Thrift Supervision they have closed the deal and purchased the more than 100-year charter and assets of Generations Bank from Armed Forces Bank.
Located at 7200 W. 132nd Street, Suite 220 in Overland Park, Kansas, the FDIC-insured federal savings bank will be providing services such as: Federal Housing Administration, VA, Jumbo, first-time home buyer and commercial loans, along with CD, savings, checking and money market accounts.
Stephen Calk will step into the position of new chairman of Generations Bank. In 1995 Stephen established and served as CEO of Chicago Bancorp, which has grown to be one of Illinois’ largest privately held retail mortgage banks. He also was an adviser with concerning matters of mortgage banking and real estate financing to the Illinois Governor, the Commissioner of Banks and Real Estate and the Office of Professional Regulation. For more than 16 years Stephen was a U.S. Army combat tactical helicopter pilot and commander.
“We are honored to continue the 100-plus year tradition of this fine institution,” said Stephen Calk, chairman of Generations Bank and chairman and CEO of Chicago Bancorp. “With 17 years of experience in residential real estate lending, we are excited to apply our expertise to offer more products, better services and a phenomenal customer service experience to existing and future customers. With this acquisition, our focus is to grow deposits, build strong customer relationships, and continue to help people achieve the American Dream through home ownership, small business lending, saving and debit card services.”
John Calk, president and chief operating officer of Chicago Bancorp, will serve as the new vice chairman of Generations Bank. At Chicago Bancorp John turned the mortgage broker into online lending and e-commerce. Before joining Chicago Bancorp, he worked for GE Capital Corporation,which is the largest financial services company in the world. There he was responsible for leading a unit in operations, marketing and financial management.
“The federal bank will provide an exceptional platform for experienced residential real estate lenders to develop referral sources on a nationwide basis,” said John Calk, vice chairman of Generations Bank and president and chief operations officer of Chicago Bancorp. “We will continue to provide financing to qualified customers, active duty and military veterans throughout the country.”
National Bancorp Holdings, the banks holding company, has acquired all the deposits and assets of the bank. Generations Bank’s board of directors includes: Ken Harris, CEO of Kantar Retail Americas Consulting; Gerald Hartley, retired partner with Crowe Chizek; Randy Miles, former chairman and CEO of State Bank of The Lakes. Edwin del hierro, partner with Kirkland & Ellis LLP, provided legal counsel, and Charles Miles provided strategic guidance for the acquisition.