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Chairman's Corner




                               The First State Bank & Trust Co.

  Recognized as "A" Rated Bank

by Weiss Ratings



The First State Bank & Trust Co.
is Recognized as One of the
Five Strongest Banks in Kansas City

The First State Bank & Trust Co. of Larned was recognized as one of the five strongest banks in the Kansas City area, according to an article by The Kansas City Business Journal dated March 25, 2013.  The bank, chartered in Larned, Kansas, has a bank center in Overland Park, as well as Larned, Pratt, and Iuka.  The ranking takes into consideration the total strength of all of the bank’s combined locations.

Year-end numbers for all 135 banks with a presence in the Kansas City area were reviewed to find the strongest. The focus was on four categories:

  • Core capital ratio measures the amount of reserves a bank sets aside. Banks are required to hold a minimum of 4 percent core capital in reserve to be considered well capitalized by regulators.
  • Problem loan ratio shows the percentage of loans in a bank's portfolio that are 90 days past due or are no longer accruing interest at the stated rate.
  • Equity capital is capital set aside that is free of debt and available to be used in the interest of the business.
  • Texas ratio measures the credit problems of a bank. It's determined by adding up the problem loans and dividing them by a bank's equity capital and loan-loss reserves. If a bank has a Texas ratio that exceeds 100 percent, it's in serious jeopardy of being shut down by regulators.

Although its problem loans and Texas ratio weren't perfect, First State Bank & Trust of Larned came about as close as you can get.” The $124.36 million-asset bank combines a strong portfolio with hefty core capital and $14.74 million in equity capital.



  Problem Loan

    Core Capital




  The First State Bank & Trust Co.





 The complete article, The Five Strongest Banks in Kansas City (4Q 2013), is available at bizjournals.com/kansascity.


Fourth, Fifth, and Sixth Generations Currently Active in the Bank


First State Bank & Trust Co. was honored with the Century of Family Banking award by the Kansas Bankers Association, on August 11, at the KBA annual CEO and Senior Management Forum.  On hand to receive the award were family members Douglas Briggs, Chairman/CEO, and Reed Peters, Senior Trust Officer.  The award is given to those banks in which members of the same family have held positions of leadership for a century or more.

Douglas Briggs and Reed Peters with the
KBA Century of Family Banking award

Family commitment has played a strong role in the history of First State Bank, beginning with H.H. Reed who was the first of what would become six generations of his family to hold leadership positions in the bank. Elected as a director of First State Bank on October 1, 1900; he served in that position until 1935. He became the third President of First State Bank on January 4, 1904. H.H. was followed by his two sons, H. Mont Reed and H. Leon Reed.  H. Mont started working at the bank in 1900 and served in many capacities, including President for 35 years and Chairman until his death in 1961. H. Leon Reed started working at the bank in 1912 and served 65 years with the bank until his death in 1977.  H.L. was known as “Hopper” because he would “hop” around the state and country on his Indian motorcycle.  H. Leon was succeeded in the leadership role at First State by Kenneth Peters.  Ken had started his banking career in Kansas City, but moved back to Larned in 1932 and began his association with the bank.  Two years later he married H. Mont Reed’s daughter, Frances.  Ken was very active with the Kansas Bankers Association and was elected President of the Association in 1962.  He also served on the Board of Directors of the Federal Reserve Bank of Kansas City in the mid ‘60’s. Ken was known as the “Flying President,” and formed a group calling themselves the “Kansas Flying Bankers.”  In addition to his banking career, Ken had a long and distinguished military career in the Kansas National Guard, attaining the rank of Colonel, and serving active duty in Europe in 1941 as executive officer of the 24th Tank Battalion.  Ken died suddenly and unexpectedly in 1968 while addressing a Girls State convention in Lawrence. 

Several members of the family are still active in the bank and continuing the family legacy.  Reed Peters, currently the bank’s Senior Trust Officer, assumed the Presidency of the bank upon his father’s death; he had returned to Larned to work at the bank just one year before. During Reed’s years at the helm he led the bank’s growth in size and market, adding bank locations in Pratt and Iuka. Reed has also been an active member of the Kansas banking community, serving on many committees of the KBA and on the Board of Directors, as well as holding the position of KBA Treasurer in 1997-98.  He continues to serve in helping the KBA develop its position on Federal legislation and regulations as a member of the Federal Affairs Committee. 

In 2006, Douglas Briggs, who is married to Reed’s daughter Leigh, became Chairman and President of the bank.  Doug began his finance career traveling nationally for C.I.T. Group, a Fortune 500 Company, ultimately specializing in the financing of mergers and acquisitions.  He then joined a large Kansas City regional bank attaining executive management positions at the bank before he took on the task of successfully forming a de-novo bank in Arizona in 2004.  Doug currently serves as Chairman, President and CEO of First State Bank.  His experience and leadership have resulted in significant growth of the bank while maintaining the traditional high standards of asset quality the bank has always sought.  He also established a bank presence in the greater Kansas City market, with the Overland Park location being managed by Leigh since it’s opening in 2007. 

Rounding out the 6th generation is Taylor Briggs.  Taylor started working in the Overland Park location in 2010 and currently manages the bank locations in Pratt and Iuka.



Previous Chairman's Corner Comments:

Chairman's Corner 06/12
Chairman's Corner 01/12
Chairman's Corner 06/11

Chairman's Corner 04/11
Chairman's Corner 04/10
Chairman's Corner 11/09

Chairman's Corner 04/09
Chairman's Corner 12/08
Chairman's Corner 10/08


I recommend the following links:

U. S. Debt Clocks - a set of running clocks calculating U.S. debt
Who's Most Indebted? - an article by Floyd Norris
Meltdown Timeline - a dynamic timeline of economic events
How Much is One Billion? - A YouTube presentation of the concept of 1 Billion


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