Oklahoma City-based BancFirst to Acquire Tulsa’s SpiritBank
Recently, Oklahoma City-based BancFirst has announced its plans to acquire Tulsa, Oklahoma-headquartered SpiritBank in a deal set to close in the fourth quarter. This acquisition marks BancFirst’s second move into the Tulsa metropolitan area within a year, following its acquisition of American Bank of Oklahoma in May 2025. The Federal Reserve approved the transaction with American Bank of Oklahoma in October of the same year.
Expanding Footprint and Value
The acquisition of SpiritBank will add five branches to BancFirst’s existing network, with three branches in Tulsa and two in areas southwest of the city. BancFirst CEO, David Harlow, expressed excitement about welcoming the communities of Bristow and Sapulpa into their family, emphasizing the value of expanding their presence in the Tulsa region. With 109 locations already in Oklahoma, BancFirst boasts approximately $15 billion in assets as of March.
SpiritBank, on the other hand, brings $939.6 million in assets, $847.2 million in deposits, and $618.4 million in loans to the table. SpiritBank CEO, Rick Harper, highlighted the alignment of values between the two institutions, stating that the transaction will be beneficial for all parties involved.
Financial Performance and Market Share
In the first quarter, SpiritBank reported $2.8 million in profit, while BancFirst recorded approximately $63 million in net income over the same period. Following the acquisition, the combined entity is expected to hold a 6.5% share of Tulsa’s deposit market, as reported by American Banker.
Despite a slowdown in bank mergers and acquisitions, with only 181 U.S. bank deals announced in 2025, banks are navigating economic uncertainties and geopolitical tensions. Laurie Havener Hunsicker, an analyst with Seaport Research Partners, noted that the conflict with Iran and concerns over inflation have influenced banks’ approach towards pursuing deals.
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