The Kansas State Banking Department came into existence in 1891 by act of the state legislature, its duties and responsibilities overseen by the Bank Commissioner. These duties included the supervision of the state banks of Kansas and the many private banks then in operation. Private banks slowly went out of existence, and in 1929 the legislature passed a law prohibiting the creation of new private banks. The statute did not provide, however, for the compulsory liquidation of those already in existence. The last private bank was the Commercial Bank in Wichita, and it was liquidated in 1944. There have since been no private banks in Kansas. The duties and responsibilities under the Bank Commissioner have changed over the years, including overseeing trust companies, credit unions, and other related banking institutions. In 1927 savings and loan associations were transferred to the Savings and Loan Department; in 1993, oversight of these institutions returned to the Bank Commissioner. In 1915, the department became in charge of governing the sale of certain securities under Blue Sky laws; these duties were transferred in 1933 to the Corporation Commission and later to an independent Securities Commission. In 1999 the Office of the State Bank Commissioner (OSBC) also gained the duties of the Consumer Credit Commissioner. Currently the Office of the State Bank Commissioner regulates all state-chartered banks and trust companies, savings and loan companies, mortgage businesses, supervised lenders, and money transmitters. The department's primary objective is to ensure the safety and soundness of state-chartered financial institutions, thereby safeguarding depositors' funds and maintaining public confidence. The department conducts examinations of the banks and trust companies approximately every 18 months. These examinations include an on-site evaluation of assets, capital adequacy, internal routines and controls, bank management and other risk areas. The OSBC also works closely with the Federal Reserve Bank and the Federal Deposit Insurance Corporation (FDIC) in the regulation and supervision of these entities. [Kansas Statutes Annotated, KSA 75-1309. http://kansasstatutes.lesterama.org/Chapter_75/Article_13/75-1309.html (accessed 9 April 2009).] [Kansas Statutes Annotated, KSA 75-1315. http://kansasstatutes.lesterama.org/Chapter_75/Article_13/75-1315.html (accessed 17 April 2009).] [Office of the State Bank Commissioner. "About the OSBC." http://www.osbckansas.org/AbouttheOSBC/welcome.html (accessed 10 April 2009).] [Secretary of State. Kansas Biennial Report. Secretary of State: Topeka, 1962.]
From the description of Records of the Kansas Office of the State Bank Commissioner, 1891 - [ongoing]. (Kansas State Historical Society). WorldCat record id: 692367455
