FOURTH FINANCIAL CORPORATION COMPLETES ACQUISITION OF PONCA BANCSHARES, INC.
WICHITA, Kan., Dec. 10 /PRNewswire/ -- Fourth Financial Corporation (NASDAQ: FRTH), parent company of BANK IV Oklahoma, today announced it has completed the acquisition of 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 $117 million and deposits of $106 million. Edward Keller, chairman of BANK IV Oklahoma, said, "Developing a successful community bank network in Oklahoma requires excellent banks like Security Bank & Trust. We are pleased to provide customers with a multitude of new products and services while retaining the community bank approach to banking." BANK IV Oklahoma is owned and operated by Fourth Financial Corporation, a $6.8 billion bank holding company. BANK IV Oklahoma serves customers from 38 offices in 11 communities. The bank has assets of $1.9 billion. Two additional acquisitions are pending in Oklahoma, subject to certain regulatory approvals. They are Equity Bank for Savings in Oklahoma City and Metro Bank of Broken Arrow. After both acquisitions are completed, BANK IV Oklahoma will have assets of $2.3 billion. Fourth Financial's common and preferred stocks are traded on the NASDAQ over-the-counter market under the symbols 'FRTH' and 'FRTHZ,' respectively. -0- 12/10/93 /CONTACT: Michael J. Shonka, CFO, investment inquiries, 316-261-4510, or Bernie McLaughlin, VP marketing, general media, 316-261-2095, both of Fourth Financial Corporation/ (FRTH)
CO: Fourth Financial Corporation; Ponca Bancshares, Inc. ST: Kansas, Oaklahoma IN: FIN SU: TNM
LD -- NY091 -- 2842 12/10/93 18:36 EST
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|Date:||Dec 10, 1993|
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