LEAWOOD, Kan. - Second-quarter earnings at Gold Banc Corp. will fall slightly below consensus estimates of 21 cents per share when the company releases its results July 27, chairman and chief executive officer Michael Gullion said Thursday.
The $2.6 billion-asset holding company with nine banks in Kansas, Missouri, Oklahoma, and Florida has completed more than a dozen acquisitions since 1997, including three this year. Its disappointing earnings, combined with a stock price that has hovered around $5 a share lately, will almost certainly halt Gold Banc's buying spree, said Ben B. Crabtree, an analyst at George K. Baum & Co. in St. Louis.
The company's stock was trading at $4.91 per share late Friday.
In April Gold Banc reported record first-quarter earnings of $7.1 million. Mr. Gullion hinted its net income might also fall below expectations in the third quarter, but he predicted that the company would meet its fourth-quarter earnings target.