Oklahoma City-based Local Financial Corp. is merging its two thrift subsidiaries to form one statewide company.

Local's Tulsa-based thrift, Local America Bank, will drop its charter, and its 17 branches will become part of $1.3 billion-asset Local Federal Bank, an Oklahoma City-based thrift with 27 branches. None of the branches from either subsidiary will be closed.

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.