TULSA, Okla. -- Liberty Bancorp Inc. said it has signed a letter of intent to buy Tulbancorp Inc. and its wholly owned subsidiary, Bank of Tulsa, in exchange for stock.

Terms were not disclosed.

The Bank of Tulsa has total assets of $69 million, deposits of $63 million, and net loans of $51 million.

Liberty said the acquisition was expected to be completed by yearend, pending regulatory and corporate approvals.

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