Printer Friendly

FOURTH FINANCIAL COMPLETES ACQUISITION OF COMMERCIAL LANDMARK, INC.; ACQUIRED ASSETS TOTAL $467 MILLION

 WICHITA, Kan., Sept. 17 /PRNewswire/ -- Fourth Financial Corp. (NASDAQ-NMS: FRTH), a Wichita-based regional bank holding company, today completed the acquisition of Commercial Landmark, Inc., a four-bank holding company with assets totaling $467 million. Fourth Financial exchanged 1.875 million shares of its stock for the outstanding shares of Commercial Landmark. With the transaction, Fourth Financial's consolidated asset size grows to approximately $6.6 billion and its Oklahoma subsidiary, BANK IV Oklahoma, N.A., increases to approximately $1.6 billion in assets.
 The four banks included in the transaction are $240 million Commercial Bank & Trust Company of Muskogee, $143 million First Bank & Trust Company of Tahlequah, $79 million Commercial Bank & Trust Company of Tulsa and $19 million First Bank & Trust Company of Fort Gibson.
 "With this, our largest Oklahoma acquisition to date, we estimate that BANK IV Oklahoma has a 5.3 percent share of the banking deposits in the state," said Fourth Financial Chairman and Chief Executive Officer Darrell G. Knudson. "We're pleased to be extending our community bank franchise and we look forward to greater efficiencies from operating with a larger revenue base," he said.
 The acquisitions are effective today, and all customers of the former banks can continue to transact business as usual at the facilities.
 Fourth Financial, an active bank acquirer, has three pending acquisitions. They include a $515 million holding company of a thrift based in Springfield, Mo., a $120 million bank in Ponca City, Okla., and a $207 million bank in Tulsa.
 Including today's acquisition, the company operates 77 offices in 31 Kansas communities through its subsidiary, BANK IV Kansas, N.A., and 31 offices in seven Oklahoma communities through BANK IV Oklahoma. The BANK IV banks provide a full line of banking and financial services for consumers, agri-business, small businesses and mid- to large-sized companies. Fourth Financial's common stock and depositary shares are traded on the NASDAQ National Market System under the sumbols "FRTH" and "FRTHZ," respectively.
 -0- 9/17/93
 /CONTACT: Michael J. Shonka (financial), chief financial officer, 316-261-4510; or R. Brent Thompson (media), senior vice president, 316-261-4403, both of Fourth Financial/
 (FRTH)


CO: Fourth Financial Corp.; BANK IV Oklahoma, N.A. ST: Kansas, Oklahoma IN: FIN SU: TNM

GK -- NY042 -- 3251 09/17/93 17:30 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 17, 1993
Words:375
Previous Article:ENNIS BUSINESS FORMS, INC., COMMENTS ON THE OUTLOOK FOR EARNINGS FOR FISCAL 1994
Next Article:NIELSEN/EDS COMPLETE HUGE PHYSICAL DATA PROCESSING TRANSFER; DATA CENTER ON LINE THIS WEEK; OPERATION REQUIRES 45,000 SQUARE-FEET OF SPACE
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters