Kansas University basketball coaches past and present are part of a Lawrence-based team that is buying Lawrence Bank.

Men’s coach Bill Self and former coach Larry Brown are investors in First Financial Bancshares Inc., a Lawrence-based holding company that has agreed to buy the bank, pending regulatory approval. The deal is expected to close early next year.

Justin Anderson, a Lawrence dentist, on Friday confirmed details of the proposed $10.435 million transaction. The arrangements are outlined in an application filed with the Federal Reserve Bank in Kansas City.

Among the key documents is an ownership list that includes a long roster of KU boosters, backers, alumni and employees past and present. Among them:

¢ Self and his wife, Cindy, who would invest $56,250 through a trust.

¢ Brown, the New York Knicks coach, who would invest $1.0125 million.

¢ Doug Compton, a Lawrence-based developer, property manager and business owner, who would take a $889,275 stake; his brother, Scott Compton, would invest $225,000, and his father-in-law, Robert M. Chase, would invest $112,500. Doug Compton also plans to team up with another bank shareholder, Robert Dunne, to share in a $1.8 million purchase of the bank’s real estate.

Kansas University basketball coach Bill Self and former coach Larry Brown are among the investors lined up to buy Lawrence Bank, which has two branches in Lawrence, including this one at 3500 Clinton Parkway.

Other investors would include Jeff Hatfield, a Lawrence appraiser, and his parents, Larry Hatfield and Mary Hatfield; Lance Johnson, owner of The Peridian Group; Wes Kabler, owner of Flamingo Enterprises; and Jon Davis, owner of The Ranch and other restaurant and bar operations in town.

Les Dreiling, a former executive at University National Bank in Lawrence, would have a $40,000 stake and join the bank as president and CEO once his non-compete clause expires in about a year, Anderson said.

Others in the group are investors and professionals who share a common goal, he said.

“The goal was to find Lawrence people with the resources and the desire to make Lawrence a better place,” said Anderson, whose family — including his father and a family trust — will invest nearly $1 million in the bank. “We were looking for people who are committed to Lawrence, and are involved in Lawrence.”

Anderson is a partner in Wilkerson Anderson and Anderson, a dental practice with roots dating back to 1973. Anderson’s family has donated millions of dollars for KU athletics, including the Anderson Family Strength Center, and many of the bank’s other prospective owners have strong ties with Mount Oread.

“Lawrence is integrally intertwined into Kansas University, and Kansas University is inseparable from Lawrence,” Anderson said. “Those two are very important to each other, and it doesn’t hurt to make that connection stronger.”

The holding company’s owners would hold $6.435 million in stock, and the company would borrow an additional $4 million to complete the deal with Lawrence Bank’s current owner, First Bancshares Inc., of Kansas City, Kan.

The $10.435 million transaction calls for an $8.85 million purchase price, a $1 million “capital injection” into the bank, $485,000 to be held in a cash reserve and $100,00 to cover legal, accounting and other expenses.

Terry Sutcliffe, a longtime Lawrence banker, established Lawrence Bank in 2000 and today it has two branches: a main bank at 3500 Clinton Parkway, and a downtown branch at 110 E. Ninth St.

Anderson said that Sutcliffe would remain as the bank’s president and CEO at least until Dreiling’s non-compete agreement expires. Other bank employees would be expected to be retained.