OKLAHOMA CITY – BancFirst Corp.’s subsidiary bank has agreed to purchase The First National Bank and Trust Co. of Vinita’s assets and assume the deposits and other obligations, BancFirst announced Friday.
First National Bank is a nationally chartered bank with branches in Vinita and Grove, according to a news release from BancFirst. Those locations would become BancFirst branches.
First National had approximately $285 million in total assets, $209 million in loans and $258 million in deposits as of December, according to the news release.
The purchase is expected to be finalized in the second quarter of 2021 and is subject to regulatory approval.
The Ratcliff family, which has owned First National since the early 1980s, chose
BancFirst for the purchase, said David Rainbolt, executive chairman of BancFirst.
“We are honored they selected us to continue taking care of Craig County,” he said. “Mark Poole (president and CEO of First National) is a known quantity to us and a solid banker. He will continue to run the bank.”
Poole said he was excited that First National will continue serving Vinita.
“Our new association with BancFirst, the highest rated and strongest bank in the state of Oklahoma, will allow us to better serve our clients and employees long into the future,” he said.
BancFirst is an Oklahoma-based financial services holding company that operates two subsidiary banks: BancFirst, which has 107 branches across the state, and Pegasus Bank, with three branches in Dallas.