OKLAHOMA CITY - BancFirst Corp. plans to acquire $140 million-asset City Bankshares, Oklahoma City. Terms were not disclosed.
The purchase, expected to be completed in the first quarter of 1996, would boost BancFirst's small-business lending and increase its assets to about $1.15 billion.
City Bankshares' wholly owned subsidiary, City Bank, is to be merged into BancFirst.
City Bank's 85%-owned subsidiary, C-Teq Inc., would be spun off to City Bankshares stockholders before the acquisition and become an independent data and check-processing firm serving financial institutions in Oklahoma and Texas.