BancFirst to Acquire Spirit BankCorp, Expanding Oklahoma Community Presence and Services

BancFirst Corporation (BANF) has initiated a strategic move to expand its presence in Oklahoma by announcing its agreement to acquire Spirit BankCorp, Inc. Through this acquisition, BancFirst aims to incorporate SpiritBank, headquartered in Tulsa, into its growing portfolio of community banks. This acquisition is set against a backdrop of notable financial metrics for Spirit Bank, which boasts approximately $939.6 million in total assets, $618.4 million in loans, and $847.2 million in deposits. The deal marks a significant step for BancFirst, as it not only broadens its lending capacity but also reinforces its commitment to serving local communities across the state.

BancFirst Expands Focus in Tulsa

BancFirst CEO David Harlow articulates the bank's vision by emphasizing the synergy between the two institutions, particularly regarding the communities in Bristow and Sapulpa. The acquisition reflects BancFirst’s ongoing strategy to deepen its footprint in Tulsa, which is pivotal to its growth objectives. Harlow's enthusiasm underscores a commitment to maintaining a strong community-focused banking approach, while the partnership is anticipated to enhance customer service and expand access to banking resources in new areas. The deal is expected to close by the end of 2026, pending regulatory approvals and other customary conditions, allowing for a seamless transition that preserves Spirit's operational identity until the merger is finalized.

Alignment of Values Between BancFirst and Spirit

On the other side of the transaction, Rick Harper, President & CEO of Spirit, highlights a mutual alignment of values that led to choosing BancFirst as their partner. He indicates that this merger is based not only on financial considerations but also on a shared mission of enhancing customer and community relations. This alignment provides a robust foundation for a successful integration, aiming to enhance the financial offerings available to active clients of SpiritBank.

Looking Ahead

Stakeholders can expect more details on the integration process and how it will affect customers in the months leading to the completion of the merger, granting a transparency that prioritizes stakeholder engagement and trust in the transition process. BancFirst continues to demonstrate growth potential, reaffirmed by its recent accolade as one of Forbes' top 50 Best Banks of 2026, a testament to its resilience and community commitment.