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FOURTH FINANCIAL ANNOUNCES INTENT TO PURCHASE TWO TULSA, OKLA. BANKS

FOURTH FINANCIAL ANNOUNCES INTENT TO PURCHASE TWO TULSA, OKLA. BANKS
 WICHITA, Kan., Aug. 13 /PRNewswire/ -- Fourth Financial Corporation (NASDAQ: FRTH), the largest bank holding company in Kansas and parent of BANK IV, today announced two letters of intent to purchase two financial institutions in the Tulsa, Okla. market.
 The company said it has signed a letter of intent to acquire Fourth National Corp. of Tulsa and its principal subsidiary, The Fourth National Bank of Tulsa. Fourth National has five locations in the Tulsa market, assets of $342.3 million and deposits of $305.2 million.
 The transaction will be accomplished through an exchange of shares valued at approximately $43.5 million. Shareholders of Fourth National Corp. will receive a total of 1,640,000 shares of Fourth Financial common stock.
 Separately, Fourth Financial Corp. has also signed a letter of intent to acquire Southern National Bank through a cash transaction. Southern National, which has two locations in Tulsa, has $55.3 million in assets and deposits of $49 million.
 "We are very excited about opportunities in the Tulsa market," said Fourth Financial Chairman and Chief Executive Officer Darrell G. Knudson. "With Fourth National and Southern National, we have announced three acquisitions in the Tulsa market in the past week. When these transactions, along with our recently announced acquisition of nine Sooner Federal offices, are completed, we will have a strong competitive position in Tulsa with 16 locations throughout the metropolitan area. We believe the future of the area is bright and we are pleased Fourth Financial will have a role in Tulsa's growth.
 "Our strategy has been to grow through selective acquisitions. We have been very successful in Kansas and now we are looking at opportunities for growth through acquisitions in other states. Fourth National, Southern National and the nine offices of Sooner Federal that we're acquiring are all healthy institutions in an attractive market. We are very pleased they will become part of the Fourth Financial organization and are confident they will be significant contributions to our continued growth into a leading regional banking company."
 Once definitive agreements are executed, regulatory approvals are received and the transactions completed, Fourth National, Southern National and Sooner Federal will become part of a new Fourth Financial subsidiary, BANK IV Oklahoma, N.A., headquartered in Tulsa. The resulting bank will have total assets of $800 million and be the third largest financial institution serving the Tulsa area. Upon the completion of all announced transactions in Kansas and Oklahoma, Fourth Financial would grow to an asset size of $5.4 billion.
 Fourth Financial Corp. is a Wichita-based bank holding company with consolidated assets of $4.2 billion. The company operates 69 offices in 29 Kansas communities through its subsidiary, BANK IV Kansas, N.A., which provides a full line of banking and financial services to consumer and business customers in the markets it serves.
 Fourth National locations to be acquired by Fourth Financial Corp.:
 Admiral 5950 E. Admiral Place
 Crossbow 11121 E. 41st St.
 Downtown Boulder at Sixth
 Eastland 12583 E. 21st St.
 United 7123 S. Lewis
 Southern National locations:
 71st & South Yale Ave.
 4815 South Harvard Ave.
 -0- 8/13/92
 /CONTACT: Brent Thompson, senior vice president of Fourth Financial, 316-261-4403; Jack Queeney or Michael Arneth of Financial Relations Board (Chicago), 312-266-7800; or Regina Ryan, FRB (New York), 212-661-8030, for Fourth Financial Corporation/
 (FRTH) CO: Fourth Financial Corporation ST: Kansas IN: FIN SU: TNM


AH -- NY095 -- 9805 08/13/92 18:43 EDT
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Publication:PR Newswire
Date:Aug 13, 1992
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