Two small Oklahoma City-based banks are negotiating a merger.
Their tentative deal, announced April 3, would create the sixth-largest bank in the metropolitan area, with assets of $498 million.
First Fidelity Bank is negotiating to buy the slightly smaller Community Bank and Trust Co.
Community, with $216 million of assets, has two offices in Oklahoma City. First Fidelity, with $282 million, has four offices in the city and four elsewhere in the state.
Lee R. Symcox, president and chief executive of First Fidelity, said it needed "to grow to a size where we could offer services similar to those of our competitors and at the same time stay competitive."
He said it had been seeking a merger partner for several years and "hasn't closed the door on future deals."
The contemplated purchase of Community would be a cash transaction. Many details remain unresolved, Mr. Symcox said, but First Fidelity is interested in keeping as many Community Bank officials as possible.