Banking: BancFirst Corp buys Exchange Bancshares of Moore.
NASDAQ listed BancFirst Corporation is to buy Exchange Bancshares of Moore, Inc., and its subsidiary bank, Exchange National Bank of Moore, the companies have announced. It's a merger of minnows.
BancFirst CEO David E. Rainbol says ""Exchange National Bank is a wonderful addition to the BancFirst family of community banks. Craig Turner, president of Exchange National Bank, is an outstanding banker and will continue to run the bank."
Figures produced in the announcement show that Exchange National Bank has approximately USD146 million in total assets, USD57 million in loans, USD109 million in deposits, and USD13 million in equity capital. The bank will operate under its present name until it is merged into BancFirst, which is expected to be during the second quarter of 2011.
BancFirst Corporation (the Company) is an Oklahoma based financial services holding company. The Company's principal subsidiary bank, BancFirst, is Oklahoma's largest state-chartered bank with 85 banking locations serving 47 communities across Oklahoma.
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