BOK Financial Completes Acquisition of Worth Bancorporation Inc.TULSA, Okla. -- BOK Financial Corp (Nasdaq:BOKF) announced the closing of its acquisition of Worth Bancorporation. Shareholders of Worth approved the acquisition. The transaction, valued at $127 million, became effective today. BOKF's acquisition of Worth adds approximately $390.3 million in assets, $271.9 million in net loans and $344.5 million in total deposits. The acquisition also adds five full-service branches to Bank of Texas' growing network, for a total of 29 branches in the Dallas/Fort Worth area. "We are pleased to announce the completion of this acquisition in the dynamic and fast-growing Tarrant County area," said Steven Nell, BOKF Chief Financial Officer. "Soon, our customers will benefit from the strengths of both organizations including nationally competitive products and services, an expanded branch network and the same attentive at·ten·tive adj. 1. Giving care or attention; watchful: attentive to detail. 2. Marked by or offering devoted and assiduous attention to the pleasure or comfort of others. customer service they have always enjoyed." BOK Financial entered the Texas market in 1997 under the Bank of Texas brand. Now Bank of Texas is the eighth largest bank headquartered in Texas. Bank of Texas has assets of $3.7 billion, loans of $2.3 billion, and deposits of $3 billion. At the end of 2006, the bank had 38 branches, including 24 in the Dallas-Ft. Worth Metroplex A metroplex is large metropolitan area containing several cities and their suburbs.[1] It is also sometimes used as an alternative to metropolis or megalopolis, which is a chain of continuous metropolitan areas. and 13 locations in Houston. BOK Financial has assets of $18.1 billion, loans of $10.7 billion and deposits of $12.4 billion. The company owns seven bank subsidiaries with operations in eight states and more than 160 locations, offers wealth management services nationwide and owns TransFund, the nation's 10th largest electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. (ATM) network. BOK Financial is a regional financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company that provides commercial and consumer banking, investment and trust services, mortgage origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real and servicing, and an electronic funds transfer network. Holdings include Bank of Albuquerque, N.A., Bank of Arizona Arizona (âr'əzō`nə), state in the southwestern United States. It is bordered by Utah (N), New Mexico (E), Mexico (S), and, across the Colorado R., Nevada and California (W). , N.A., Bank of Arkansas, N.A., Bank of Oklahoma, N.A., Bank of Texas, N.A., Bank of Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , N.A., Colorado State Bank & Trust, N.A., BOSC, Inc., the TransFund electronic funds network, Southwest Trust Company, N.A. and AXIA Investment Management, Inc. Shares of BOK Financial are traded on the NASDAQ under the symbol BOKF. For more information, visit www.bokf.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion