BancFirst Corporation Announces Acquisition of American Bank of Oklahoma

Rhea-AI Summary

BancFirst Corporation (NASDAQ: BANF) has announced an agreement to acquire American Bank of Oklahoma (ABOK), a privately held community bank based in Collinsville, Oklahoma. The acquisition target has $385 million in total assets, $280 million in loans, and $320 million in deposits. The deal is expected to close in Q3 2025, with ABOK's integration into BancFirst planned for Q4 2025. The acquisition strengthens BancFirst's presence in growing Northeastern Oklahoma communities of Collinsville and Skiatook.

Positive

• None.

Negative

• Integration costs and potential operational challenges during merger process
• Regulatory approval still pending

OKLAHOMA CITY, May 21, 2025 /PRNewswire/ -- BancFirst Corporation (NASDAQ: BANF) today announced it has entered into an agreement to acquire American Bank of Oklahoma (ABOK), a privately held community bank headquartered in Collinsville, Oklahoma. ABOK has approximately $385 million in total assets, $280 million in loans, and $320 million in deposits. The transaction is expected to close in the third quarter of 2025, subject to regulatory approvals and customary closing conditions.

David Harlow, CEO of BancFirst Corporation, commented:
"Collinsville and Skiatook are thriving communities that continue to experience dynamic growth in Northeastern Oklahoma. We are excited to welcome the American Bank of Oklahoma team and their customers to BancFirst. This acquisition aligns with our continued commitment to serving communities here in our home state."

Teresa Brown, President & CEO of American Bank of Oklahoma, added:
"Joining forces with BancFirst represents a great opportunity for our customers and employees to join one of the strongest banks in the country. We share common values and a commitment to local service, and we look forward to the partnership."

American Bank of Oklahoma will operate under its present name until it is merged into BancFirst, which is expected to be in the fourth quarter of 2025. Customers will receive additional information in the coming months to ensure a seamless transition.

About BancFirst Corporation

BancFirst Corporation is an Oklahoma based financial services holding company with $14 billion in total assets as of 3/31/25. The Company conducts operating activities through its principal subsidiary bank, BancFirst, headquartered in Oklahoma City. BancFirst was ranked in the top 20 on Forbes' list of America's Best Banks of 2025 – the highest rated Oklahoma bank. The Company also owns 100% of BancFirst Insurance Services, an independent insurance agency. BancFirst Corporation is a publicly held company and is listed on the NASDAQ National Market System under the symbol BANF. More information can be found at www.bancfirst.bank.

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SOURCE BancFirst

FAQ

What is the size of BancFirst's acquisition of American Bank of Oklahoma?

American Bank of Oklahoma has $385 million in total assets, $280 million in loans, and $320 million in deposits.

When will BANF complete the acquisition of American Bank of Oklahoma?

The acquisition is expected to close in Q3 2025, with ABOK's integration into BancFirst planned for Q4 2025.

Which markets will BancFirst expand into with the ABOK acquisition?

The acquisition expands BancFirst's presence in the Northeastern Oklahoma communities of Collinsville and Skiatook.

Will American Bank of Oklahoma keep its name after the BANF acquisition?

ABOK will operate under its current name until it merges with BancFirst in Q4 2025.