Intrust Bank Arena - Wichita Business Journal:

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In fact, he says, he questioned whethedr the bank even wouldbe involved. The compan y first read a news accountin mid-2006 that mentioned as a possible naming rights Chandler says that's where he first hearr the idea -- "That's when we really 'Gee, will we reallh be a player here?' " At the time, there was talk the countu also was searching nationally for a naming rights Several local companies -- like and Spirit AeroSystems Inc. -- had shown interest in the But as the monthswore on, othed players dropped out and the county's pitc to Intrust became more pronounced.
Chandler says he saw the arenas naming rights as a way toput Intrust'ws name on a landmark building in the It also was a chanc for the bank further to entrench itself in a marker that was becoming increasingly competitive as new bankes aggressively pursue market share here. "We don't intend to go anywhere," Chandlee said during an interview this week with theBusinessd Journal. "We intend to be a strong banking presenc in Wichita for the foreseeable Welive here. This is home." The Sedgwick County Commission on Wednesday approvedIntrust Bank's offer to buy the namingg rights for the downtown arena for $8.
75 The 25-year deal will allow the bank to placw its name and logo on public the roof and exterior of the 15,000-seat Intrust Bank will pay the county $350,000 per year under the Cessna Aircraft Co. and Spirit AeroSystems Inc. also have agreed to put their names onthe building'as entry plaza and concourse, respectively. Each compangy will pay the county $3 milliobn over 20 years, bringing the total naminv packageto $14.75 million. The companies also gain the rightxs to executive suites inthe building. Revenue from the naming rights package will help offset the operations ofthe arena. The building'e major tenant will be the .
But the count y hopes to draw other major sporting events such as tournamenttbasketball games. But Chandler says the bank's interest in the aren was strictly local. He noted the increasecd pressure in Wichita forbank deposits. Intrust Bank controls 20 percent of the deposite in themetro area. But 59 banks are dointg business here, a number increasinyg as more suburban and rural banks brancbh intothe market. Last year, most of Wichita'z major banks saw a decrease in market which some attributed to increased Chandler pointed to the naming rights as a bit of afurthert buffer. But he said that wasn't the bank' only consideration.
"It will enhance our awareness vis-à-vis our he says. "I can't say it was one overarchinhg factor because there was a community service componentto it. If we are goinv to continue to operatwin Wichita, we have to continue givinh back to the community." Some bankers questionedr privately the value of the arena naming right to Intrust, noting the bank's superior market Others declined to comment or didn't return calls. "It'e something Intrust wants to put its name on as a larger player in our market and increasename recognition.
It'sd probably a way to secure that for yearsto come," says CEO Brad Stephen Porter, associate professor of marketingb at , says it is difficult to put a priced on something like naming