FOURTH FINANCIAL CORP. ANNOUNCES ACQUISITION OF PONCA BANCSHARES, INC.
WICHITA, Kan., June 1 /PRNewswire/ -- Fourth Financial Corp. (NASDAQ: FRTH), parent company of BANK IV Oklahoma, has agreed to purchase Ponca Bancshares, Inc. and its subsidiary, Security Bank & Trust Co. of Ponca City. The bank, with two locations in Ponca City and one in each of the towns of Braman, Kaw City and Shidler, has assets of $120 million. Terms of the acquisition were not announced. After this and other pending acquisitions are completed, BANK IV Oklahoma will have assets of $1.7 billion and its banks will serve customers from a statewide network of 30 locations in 11 communities. Ed Keller, chairman of BANK IV Oklahoma, said, "Ponca City is an excellent market and fits beautifully with our strategy of building the leading community bank franchise in Oklahoma. We are pleased to provide Security Bank & Trust customers the same personal service while also offering the benefits of a regional bank, including new and improved products, enhanced lending limits and 24-hour, 7-day-a-week customer service." Fourth Financial Corp. was recently rated as one of the country's safest banking companies in an analysis of the nation's 100 largest banks by U.S. Banker magazine. The company's common stock and depositary shares are traded on the NASDAQ national market system under the symbols "FRTH" and "FRTHZ," respectively. Fourth Financial last week announced the merger of two banks serving Oklahoma City, Woodward and Waukomis into BANK IV. BANK IV Oklahoma, N.A., currently serves customers in four communities from 20 locations. Acquisitions are also pending in Muskogee, Tahlequah, Ft. Gibson and Tulsa. -0- 6/1/93 /CONTACT: Michael J. Shonka (investors), chief financial officer, 316-261-4510, or R. Brent Thompson (media), senior vice president- marketing, 316-261-4403, both of Fourth Financial Corp./ (FRTH)
CO: Fourth Financial Corp. ST: Kansas IN: FIN SU: TNM
LR -- NY063 -- 3990 06/01/93 13:07 EDT
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|Date:||Jun 1, 1993|
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