F&M Bancorporation Inc. in Tulsa, Okla., has raised $78 million in capital that it plans to use for expansion in Oklahoma and Texas.

The $1.7 billion-asset company said Friday that the capital will help support its middle market and retail banking operations. The capital included a $40 million private placement and $38 million from the Treasury Department's Small Business Lending Fund.

"We are very pleased that we were able to proactively raise capital to support our growth strategy in Texas and Oklahoma," said Anthony B. Davis, the company's chairman and chief executive, in a press release. "We are already seeing the results of our investment in the people and infrastructure that will allow us to continue to provide exceptional, personal service to our growing base of commercial and retail customers throughout our geographic footprint."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.