Bank First set to acquire an Oklahoma-based lender that received a redlining order from the Department of Justice.
**BancFirst and American Bank of Oklahoma to Merge, Expanding Oklahoma Presence**
In a significant move, BancFirst Corporation, headquartered in Oklahoma City, has announced plans to acquire American Bank of Oklahoma (ABOK), based in Collinsville, Oklahoma. The transaction is structured as a merger with AmeriBank Holding Company, allowing BancFirst to indirectly acquire ABOK.
The acquisition was officially filed and noticed by the Federal Reserve in June 2025, with comments on the merger open until July 25, 2025. The deal is part of BancFirst’s growth strategy in Oklahoma, although specific financial figures of the deal have not been disclosed.
Meanwhile, BankFirst Capital Corporation, another Oklahoma-based bank, has recently expanded its regional presence by completing an acquisition of The Magnolia State Corporation and its subsidiary Magnolia State Bank in Mississippi. This acquisition has added 52 offices across Mississippi and Alabama, with approximately $3.2 billion in total assets, $2.2 billion in gross loans, and $2.8 billion in total deposits to BankFirst's existing assets.
Regarding the financial status of both BancFirst and American Bank of Oklahoma, there are no reported financial difficulties in the recent developments available. However, it's important to note that ABOK was fined $7,500 by the Federal Deposit Insurance Corp. for violating FDIC rules related to flood insurance.
ABOK's CEO, Teresa Brown, expressed enthusiasm about the upcoming merger, stating that it will provide ABOK's customers and employees an opportunity to join one of the strongest banks in the country. She also highlighted a shared commitment to local service as a positive aspect of the merger.
The transaction is expected to close in the third quarter of this year. ABOK will continue to operate under its current name until the merger with BancFirst is completed.
In a separate development, ABOK was involved in a redlining consent order, under which it was required to open a branch in a majority-Black and Hispanic census tract and put at least $950,000 in a loan fund to subsidize mortgages and home improvement financing. ABOK had a partial win in this case, as a magistrate judge removed two references to the 1921 Tulsa Race Massacre, which the bank had objected to.
Established 77 years after the 1921 Tulsa Race Massacre, ABOK aims to leverage its presence in the Tulsa metro area, a move that BancFirst is likely to benefit from as well.
Here's a summary of the recent acquisitions:
| Bank | Acquisition Details | Financial Status / Issues | |-------------------------|------------------------------------------------|-------------------------------| | BancFirst | To acquire American Bank of Oklahoma via merger | No reported financial issues | | BankFirst Capital Corp. | Completed acquisition of Magnolia State Corp. and Magnolia State Bank | No reported financial issues |
This merger and acquisition activity underscore BancFirst and BankFirst Capital Corporation's commitment to growth and expansion in their respective regions. As the details of the transactions unfold, both banks are set to strengthen their positions in the banking sector.
The merger between BancFirst and American Bank of Oklahoma (ABOK) is part of BancFirst's growth strategy in the finance industry, with discussions surrounding the acquisition being structured in Oklahoma's business sphere. ABOK's customers and employees stand to gain an opportunity to join one of the stronger banks in the country as a result of this merger.
