1st Bank Oklahoma will operate under its present name until it is merged into BancFirst, which is expected to be during the first half of 2012.
1st Bank Oklahoma has approximately $256m in total assets, $117m in loans, $187m in deposits, and $24m in equity capital.
The transaction is subject to regulatory approval and is scheduled to be completed during July 2011.
BancFirst president and CEO David Rainbolt said that 1st Bank Oklahoma is a solid bank serving great communities. Jeff Jensen, the current president, has done a wonderful job and will continue to run the bank.
BancFirst is an Oklahoma based financial services holding company. The company’s principal subsidiary bank, BancFirst, is state-chartered bank with total assets of $5.1bn and 89 banking locations serving 50 communities across Oklahoma.
