Bank of the West, Brooke Savings Bank Sign Purchase AgreementPurchase Agreement • September 18th, 2007 • Brooke Corp • Insurance agents, brokers & service
OVERLAND PARK, KS – September 13, 2007 – Bank of the West and Brooke Savings Bank, a wholly owned subsidiary of Brooke Corporation (NASDAQ: BXXX), today announced a definitive agreement for Brooke Savings Bank to purchase approximately $8 million in loans and $103 million in deposits. Brooke Savings Bank has agreed to pay a deposit premium of between $2.7 and $3.3 million. The transaction is expected to close within 150 days and is subject to regulatory approval and standard closing conditions.
PURCHASE AND ASSUMPTION AGREEMENTPurchase and Assumption Agreement • September 18th, 2007 • Brooke Corp • Insurance agents, brokers & service • Kansas
THIS PURCHASE AND ASSUMPTION AGREEMENT (the “Agreement”) is entered into as of September 12, 2007, by and among Brooke Savings Bank, a federal savings bank (“Purchaser”), Brooke Corporation, a Kansas corporation and a holding company of Purchaser (“Holding Company”), and Bank of the West, a California banking corporation (“Seller”).
