The transaction is expected to close in the fourth quarter, though the companies have not disclosed the financial terms of the agreement. SpiritBank currently manages approximately $939.6 million in total assets, anchored by $618.4 million in loans and $847.2 million in deposits.
In section Market Quotes
BancFirst Targets Tulsa Expansion with Spirit BankCorp Acquisition
Oklahoma City-based BancFirst is moving to consolidate its regional presence by acquiring Spirit BankCorp, the parent company of the Tulsa-based SpiritBank. The deal, announced Wednesday, positions the financial services holding company to significantly broaden its footprint in the Tulsa market as it absorbs the community bank's existing operations.
Until the formal integration is finalized, SpiritBank will continue to conduct business under its established name. BancFirst executives indicated that the acquisition serves as a strategic play to deepen their reach within Tulsa, leveraging Spirit’s local customer base to strengthen their competitive position in the state.
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