BOK Financial in Tulsa, Okla., is rebranding its operations in two states following its
The $38 billion-asset company is putting its corporate stamp on branches in Colorado and Arizona, where the CoBiz deal more than doubled its deposit market share. The rebranding will apply to Colorado State Bank and Trust and Bank of Arizona.
The CoBiz acquisition closed on Oct. 1.
BOK has no immediate plan to rebrand its other banks, which include Bank of Albuquerque, Bank of Arkansas, Bank of Oklahoma, Bank of Texas and Mobank. The company could revisit branding if it buys a bank in any of those markets, Steven Bradshaw, BOK's president and CEO, said in an interview.
BOK is facing fewer constraints on asset growth given the recent increase in the threshold for becoming a systemically important financial institution. While he prefers to focus on organic growth, Bradshaw said BOK would consider acquisitions in markets where it already has a presence.
The raised SIFI threshold “was a game changer for our organization and banks our size,” Bradshaw said. “Approaching and crossing the $50 billion-asset threshold prior to the change was an incredibly expensive proposition, and a difficult one, but with that threshold moving, you’ll likely see some expanded growth for regional banks like BOK.”
BOK is also focused on finding roles for CoBiz employees, the majority of whom will stay at the company. Bradshaw said he is also preparing for the systems conversion, which he expects to take place in the first quarter.
“Make sure you have people in the right places moving forward and support it with a good systems integration process,” he said.
