Financial Advisor
MidFirst Bank
M&A Advisory
Has Sold Three Branches To
Transaction Details
- On September 24, 2018, Equity Bancshares, Inc. (“Equity”) announced that it will purchase and assume three Oklahoma branches located in the Guymon and Cordell markets from MidFirst Bank (“MidFirst”), a subsidiary of Midland Financial Co.
- With 2 branches in Guymon and 1 branch in Cordell, the three branches have approximately $100 million in deposits
- Equity will purchase the branches for a deposit premium of 6.0% of the average aggregate daily closing balance of deposits for the 15 business days prior to closing, subject to certain adjustments and limitations
- Expected closing: 1Q’19
- Stephens Inc. served as the exclusive financial advisor to MidFirst
About the company
With more than $15 billion in assets, Oklahoma City – based MidFirst Bank ranks as one of the largest privately owned banks in the country. MidFirst Bank has banking centers in Oklahoma, Arizona, California, Colorado, and Texas, and provides commercial lending, wealth management, private banking and mortgage servicing nationally.
Sources: Company press releases and S&P Global Market Intelligence.
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