Bixby-based Citizens Security Bank, with eight branches in northeastern Oklahoma, is adding a facility in south Tulsa with another location soon to follow in Jenks.
The bank, with assets of nearly $417 million as of June 30 this year, is also building an 18,000-SF operations center addition to its 23,000-SF headquarters bank at 148th Street and South Memorial Drive, said W. Carlisle Mabrey III, president and CEO.
The bank has purchased property in the 200 block of South Elm Street in Jenks for a 5,000-SF full-service branch with a drive-in facility.
The expansion into the Tulsa and Jenks markets follows the bank’s focus of concentrating on community and its target market of small businesses and individuals, Mabrey said.
With an office already in Glenpool, “Jenks is just kind of a natural addition to that,” he said. “A lot of people in the Glenpool School District live north of Glenpool. This branch in Jenks will catch those people north of Glenpool and south of Jenks and in Jenks proper.”
“That’s a smaller community, which is kind of our niche,” Mabrey said.
Work will not start on the Jenks branch for six-18 months while the 10,000-SF Tulsa branch at 81st Street and Yale Avenue and the operations center addition on the Bixby headquarters are being completed, Mabrey said. He expects those units to open by mid-summer 2007.
With construction to start in September, Mabrey said, the facility “once again is looking to the small business person and individual households that maybe aren’t being served as well as they should be.”
The bank will likely continue a strategy of growth in its target market, he said.
“We will keep doing that probably every couple of years or so,” he said, with a focus on northeast Oklahoma, primarily the Tulsa market.
“We don’t want to get too spread out or too far away,” he cautioned. “It gets hard then to deliver the kind of service you like to deliver.”
“We will slowly continue to branch into those areas where we see a need and see an opportunity,” he said.
Citizens Security Bank, which opened in Bixby in 1924, also has a branch in Broken Arrow, two in Okmulgee and three in Muskogee. Owned by Mabrey Bancorporation, Citizens Security Bank is the surviving charter following a merger Jan. 1, 2005, with Citizens Bank of Okmulgee.
Mabrey Bancorporation also owns three other Oklahoma banks – Morris State Bank, First Bank of Haskell and the Bank of Commerce in Wetumka with a branch in Weleetka. Mabrey said the Haskell bank will merge into Security Citizens Bank at the end of this year. Assets for the holding company top $500 million.
BOK Financial Units Expanding In Three States
Tulsa-based BOK Financial Corp. is expanding operations in Arkansas, Arizona and Kansas.
Bank of Arkansas, a subsidiary BOK Financial, opened a 4,500-square-foot branch in Bentonville, Ark., Aug. 17. The full-service bank also will offer specialty services in commercial banking, personal financial services, and trust.
“Expanding into Bentonville allows us to better serve our customers in Benton County,” said Bank of Arkansas CEO Jeff Dunn. “We’ve been impressed with the growth of this market and we’re pleased to be part of this business community.”
Bank of Arizona, a subsidiary BOK Financial, opened its East Valley Business Banking Office this month in Tempe, Ariz.
BOK also expects to open a new bank by years end in Overland Park, Kan. The bank, Bank of Kansas City, will open with a single location.?