Kansas Banks Wary of Federal Bailout

By: AP
By: AP

The head of the Kansas Bankers Association says the state's banks are reluctant to accept money included in the financial bailout. Association president Chuck Stones said ``banks are very wary of the program'' Congress approved last month as part of the $700 billion dollar bailout.

Capitol Federal CEO John Dicus said his bank already has
sufficient resources to continue lending money to home buyers. Dicus said the program's preferred stock requires payment of a five-percent dividend rate, and his bank would have to lend at 8 percent to cover it.

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