BancFirst Corp., Oklahoma City, said it would buy Kingfisher (Okla.) Bancorp for an undisclosed cash sum. The deal will be accounted for as a purchase.
Kingfisher, parent of Kingfisher Bank and Trust Co., has $89 million of assets at one office. BancFirst is a $1.6 billion-asset banking company with 61 branches in Oklahoma. The deal is expected to close in the fourth quarter.
Brent Henderson, president and chief executive officer of Kingfisher, said he was attracted to BancFirst because of its reputation as an acquirer. "They are known for continuing to invest in and lend to their communities," he said. "Affiliating with someone who is concerned about our hometown was important to us."
May 6, BancFirst announced a deal to buy AmQuest Financial Corp., Duncan, Okla., for $115 million. When that deal closes-expected this fall- BancFirst would have $2.1 billion of assets.
- Louis Whiteman