The Gtrust acquisition will add to BOK Financial's Kansas businesses, which include the Bank of Kansas City and mortgage offices in Wichita and Salina.
Wealth management makes up about 15 percent of BOK Financial's profits, according to a recent analyst report from Morningstar. Commercial banking comprises 60 percent, with consumer banking making up the remainder.
Shares of BOK Financial fell $1.13 to close at $62.73 in Wednesday trading on the Nasdaq exchange.
We believe that this acquisition provides us with new wealth management products and expertise, a talented and creative team of wealth management entrepreneurs who have built and grown a successful business and an expanded presence in the important Kansas market.”
Senior executive vice president