POST Online Media Lite Edition



 

Bank SNB completes acquisition of First Commercial Bank

Staff writer |
Bank SNB, an Oklahoma state banking corporation and wholly-owned subsidiary of Southwest Bancorp, announced that it has completed its acquisition by merger of the third-largest Edmond, Oklahoma-based bank, First Commercial Bank.

Article continues below






As result of the merger, Bank SNB now has five additional Oklahoma City metro banking centers as part of its network and four banking centers in the Colorado market – three in Denver and one in Colorado Springs.

All of the banking centers will operate immediately under the name Bank SNB. After announcing the agreement in May 2015, the merger was consummated after obtaining regulatory and shareholder approvals within Bank SNB’s expected timeframe.

The acquisition of First Commercial Bank increases Bank SNB’s total assets by $300 million to $2.3 billion. The acquisition enhances Bank SNB’s presence in the Oklahoma City and Edmond markets, resulting in a top-10 deposit market share ranking for Bank SNB in the Oklahoma City MSA.

Bank SNB now has nine banking centers throughout the Oklahoma City MSA and a total of 33 throughout the bank’s four-state footprint. Furthermore, the addition of four Colorado banking centers provides a strategic entry point into Colorado with the opportunity to grow and expand the market.


What to read next

ICBC acquires 60% stake in Standard Bank Plc
Dubai to have first digital-only bank in Emirates
Independent Bank Group buys Live Oak Financial Corp.