BancFirst to Buy First Jones Bancorporation

BancFirst Corp. has agreed to acquire First Jones Bancorporation and its subsidiary bank, First State Bank, Jones.
First State Bank has about $40 million in total assets, $11 million in loans, $35 million in deposits and $4.6 million in equity capital. The bank will operate as First State Bank until its systems are merged into the BancFirst system, which is expected to be during the second quarter of 2010. The transaction is scheduled to close by Dec. 31 and is subject to regulatory approval.
“Eastern Oklahoma County should continue to be a growth area,” David E. Rainbolt, BancFirst Corp. president and CEO, said. “First State Bank, Jones, has taken care of the Jones market well, and BancFirst plans to continue that. The bank’s president and CEO, Bill McCully, will continue to run the bank for us.”
McCully said he is pleased to be joining the BancFirst family of community banks.
“BancFirst has a philosophy and reputation for community banking,” he said. “With their resources, we will be able to offer our customers a broader array of financial products, services and capacity.”
BancFirst Corp. is an Oklahoma-based financial services holding company. The company’s principal subsidiary bank, BancFirst, is Oklahoma’s largest state-chartered bank, with total assets of $4.3 billion and 88 banking locations serving 44 communities across Oklahoma.

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