Local Financial Corp. of Oklahoma City said it has reached a definitive agreement to buy Guthrie (Okla.) Federal Savings Bank for $9.5 million in cash.

The price is 1.2 times Guthrie's book value and 19.4 times its trailing fourth-quarter earnings.

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.