OKLAHOMA CITY – BancFirst founder H.E. “Gene” Rainbolt died Thursday, Jan. 2, at the age of 95. He was born Feb. 20, 1929, to Silas Clark “Charlie” and Bertie Rainbolt in Norman.
The esteemed businessman, civic leader and philanthropist was considered an Oklahoma legend by many.
“Gene was an Oklahoma original,” said Congressman Tom Cole (OK-04). “He always gave credit to others for his many accomplishments. His teachers, mentors, family, business associates and others in his life were always singled out by him with praise and appreciation. However, the truth was that Gene himself was a man of extraordinary energy, wisdom, and determination. He was astute in his judgement of business ventures and always discerning about the people he met. This is what enabled him to build a banking empire that spans the state and has done so much to fuel and finance Oklahoma’s growth and prosperity.”
Rainbolt graduated from Norman High School in 1947 and began attending the University of Oklahoma in 1948. He married his childhood friend, Jeannine Tuttle, in 1950. They were married 57 years when she died from lung cancer in September 2007. The couple are survived by two children, seven grandchildren and two great-great grandchildren.
After graduating from OU in 1952, Rainbolt received an ROTC Commission as a 2nd Lieutenant and served in Korea in the 981st Field Artillery Battalion in 1953 and 1954. In mid-1954, he transferred from Korea to Okinawa, Japan, where his wife joined him. They moved back to Norman in 1955. He returned to OU and earned an MBA.
In a 2019 interview with John Erling from the Oklahoma Historical Society “Voices of Oklahoma” project, Rainbolt said that in 1959 Professor James Murphy facilitated his entry into the banking business. He credited Murphy as the most impactive person in his adult life, setting the stage for a career that lasted 60 years.
In 1962, Rainbolt acquired his first bank, the First American Bank in Purcell. In 1965, he acquired Federal National Bank in Shawnee and in 1967 he and a group of investors acquired a number of small banks in Oklahoma, which led to the formation of United Community Corporation in 1985. UCC was the state’s first largest state-chartered bank in Oklahoma with assets of $7.3 billion and offices in 59 communities around the state.
On April 1, 1989, BancFirst was formed and established its corporate headquarters in downtown Oklahoma City. In 1999, Rainbolt was inducted into the Oklahoma Hall of Fame and has received honorary doctorates from Oklahoma Baptist University, Oklahoma City University and Oklahoma Christian University.
He served as President of the Oklahoma Bankers Association, Chairman of the Academy for State Goals and the Oklahoma State Chamber of Commerce, as well as former Director of Leadership Oklahoma and the Great Expectations Foundation. He also served on many charitable boards.
Rainbolt was also a member of the Leadership Council of the Charles and Peggy Stephenson Oklahoma Cancer Center and on the Board of Visitors of M.D. Anderson Foundation. His family are committed supporters of the University of Oklahoma, the University of Oklahoma Health Sciences Center and Oklahoma Medical Research Foundation.
A private burial is planned for Rainbolt.