- Key takeaway: Less than two years after acquiring six Houston-area branches, MidFirst Bank is deepening its Texas footprint with a deal for a Dallas community bank.
- Supporting data: Dallas' population grew 11% between 2020 and 2025, boosting its attraction for banks.
- Expert quote: "Dallas Capital Bank has built exactly the kind of relationship-focused culture that defines the MidFirst experience." –MidFirst CEO Todd Dobson
Dallas continues to be a magnet for out-of-state banks.
MidFirst Bank in Oklahoma City is moving to deepen its presence in Texas, agreeing to acquire a one-branch, Dallas-based bank. The deal comes just three weeks after Toronto-based Scotiabank struck a deal to acquire the $1 billion-asset, Dallas-based Maple Financial Holdings and its MapleMark bank subsidiary. There have been at least seven other transactions involving the sale of Dallas-area community banks since October 2024.
MidFirst agreed Wednesday to pay an undisclosed sum for the $1.2 billion-asset Dallas Capital Bank. The transaction, expected to close in the second half of 2026, will add a "premier" commercial banking team to its existing Dallas lending operation, according to the $42.1 billion-asset MidFirst. Both MidFirst and Dallas Capital are privately held.
"Dallas is one of the most dynamic banking markets in the country, and Dallas Capital Bank has built exactly the kind of relationship-focused culture that defines the MidFirst experience," CEO Todd Dobson said in a press release. "By bringing our organizations together, we will be able to serve the Dallas market in an even greater way."
Home to approximately 8.5 million people, Dallas ranks as the fourth-largest metropolitan statistical area in the country, according to the U.S. Census Bureau. Its population grew by 11% between 2020 and 2025, while its median household income topped $90,000 according to the most recent Census Bureau data.
Dallas Capital's roots date back to 2015, when Chairman and CEO Doug Hutt led an investor group that acquired the $667.2 million-asset Town North Bank and rebranded it.
"MidFirst and Dallas Capital Bank share a fundamental belief that clients deserve a banking partner who knows them, responds quickly, and makes decisions locally," Hutt said in the press release. "Joining MidFirst means our clients will continue to receive that same personalized approach, now with the full resources and scale of the nation's largest privately owned bank behind them."
Dallas Capital has been profitable throughout its 11-year history, including reporting a $10.1 million profit for 2025, up from $5.7 million in 2024. The company's net income totaled $2.3 million for the quarter ending March 31.
MidFirst, which is controlled by the Records family, reported first-quarter net income totaling $144.6 million. Its profit totaled $477.8 million in 2025, up from $408 million the previous year.
MidFirst's history extends back to 1954, when prominent mortgage banker W.R. Johnson purchased a 50% stake in the Midlands Mortgage Company in Oklahoma City. Johnson and son-in-law George Records acquired the other half of Midlands in 1963. MidFirst was formed by George Records in 1982. Midlands Mortgage operates as a division of MidFirst today.
MidFirst entered Texas in 2017, opening a commercial lending and wealth management office in Dallas. It opened a similar office in San Antonio in December 2024. MidFirst's biggest Texas splash prior to Wednesday came in April 2024, when it agreed to acquire six Houston-area branches from the $9.9 billion-asset, Coral Gables, Florida-based Amerant Bancorp. That deal, which closed in November, 2024, brought Midland $574 million in deposits along with $479 million in loans.
MidFirst remains interested in expanding in the Lone Star State. A spokesman said Wednesday that the bank "is open to additional opportunities in Texas that have a cultural and strategic fit."
"We have invested in Texas for many years," MidFirst Chairman Jeffrey Records said in the press release. Records described the deal for Dallas Capital as "an important step in deepening our commitment to the state."
MidFirst has been in an expansion mode throughout much of 2026. In May, the company entered the San Francisco market, hiring a team of former First Republic bankers led by Guarav Kapur. MidFirst grew its hometown footprint, too, acquiring a 250,000 square-foot office building adjacent to its headquarters campus.
MidFirst does business in seven states, Arizona, Nevada, Colorado and Utah, as well as Texas, California and Oklahoma.
