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CrossFirst Bank agrees to purchase Tulsa National Bank

Kansas City-based CrossFirst Bank has inked an agreement to purchase Tulsa National Bancshares and its banking subsidiary for an undisclosed sum.

The acquirer said that the transaction will strengthen its operations in the area, while enabling to offer better services to its customers.

Commenting on the acquisition, CrossFirst chairman Ron Baldwin said the Tulsa market was important as it completes the company’s four-market strategy.

"Tulsa National is a well-established bank and has a similar one-location strategy to serve businesses, professionals and their families," Baldwin added.

Pending receipt of concerned regulatory approvals and other closing conditions, the transaction is likely to conclude during the third quarter of 2013.

Founded in Tulsa in 1984, Tulsa National has one branch and $150m in assets, while CrossFirst Bank has $560.6m in assets and one location each in Kansas City, Wichita and Oklahoma City.

Formerly known as CrossPoint Bank, the institution was founded in 2007 by a group of financial executives and business leaders to meet the requirements of business owners, professionals and their families.