CrossFirst Holdings in Leawood, Kan., has agreed to buy Tulsa National Bancshares in Oklahoma.
The deal will give the $561 million-asset CrossFirst its first branch in Tulsa. The company, which did not disclose a price, expects to complete the acquisition in the third quarter.
Tulsa National Bancshares has $164 million in assets and one branch.
"We had a strategic plan from the very beginning to locate our bank in these four markets, and it was important to find the last leg of our strategic stood, so to speak," Ron Baldwin, CrossFirst’s chairman. "We found a bank that is a terrific match with who we are, with a similar culture and focus on the customer."
CrossFirst completed a $22 million private placement earlier this month. Last year, it agreed to buy the $110 million-asset Heartland Bank, which is also in Leawood, but the deal collapsed and Heartland eventually failed.
CrossFirst is also the parent of CrossFirst Advisors, an investment bank that provided advice on the Tulsa National acquisition. CrossFirst’s directors include a former Oklahoma congressman and National Football League Hall of Famer Steve Largent.
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