SHAWNEE — First National Bank & Trust (FNB), owned by the Citizen Potawatomi Nation (CPN), has announced it has entered into a definitive agreement to acquire MidWest Community Financial Corp. (MCFC) and its wholly owned subsidiary, The First State Bank (FSB).
First National Bank has branches in Lawton, Mangum and Granite.
The acquisition represents Oklahoma’s largest mergers and acquisitions transaction in banking since 2016.
“The joining of these two historic banking institutions demonstrates that we live in a land of opportunity,” said Tribal Chairman John “Rocky” Barrett. “One bank was born in a tiny farming community in western Oklahoma, and the other began in a doublewide trailer on a gravel parking lot. Both share a common trait accounting for their very uncommon success: dedication to providing the best customer service. Opportunity is the doorway to success for a bank and its customers, no matter how small the beginnings.”
The combined bank will have assets in excess of $700 million and rank as one of the largest independent community banks in central Oklahoma.
The acquisition is subject to regulatory and shareholder approval and is expected to close in the third quarter of 2021.