Gold Banc of Leawood, Kan., announced that it plans to buy a computer networking company and name the company's founders to top executive positions at Gold.
Gold, a $1.1 billion-asset bank holding company, agreed to buy CompuNet Engineering for $4.3 million in cash. CompuNet, a five-year-old company based in Overland Park, Kan., specializes in networking computers and consolidating data processing centers for banks.
Malcolm M. Aslin, one of CompuNet's founders, has been named president of Gold Banc. As the No. 2 executive, Mr. Aslin said he will oversee the company's investment products, many of which are sold to Gold's customers using technology set up by CompuNet. Gold offers investment advice to its customers in rural Kansas via video conferencing.
Joseph F. Smith, CompuNet's other founder, will be a senior vice president and chief technology officer at Gold. Before starting CompuNet, Mr. Aslin and Mr. Smith spent much of their careers at UMB Financial Corp. in Kansas City.
CompuNet will continue to offer its services to independent community banks and other small businesses.