BOK Financial buys Kansas wealth-management firm

BOK Financial Corp. said it will acquire Topeka, Kan.-based Gtrust Financial Corp. to add to its growing wealth management division. Terms of the deal were not disclosed.
by Paul Monies Published: October 3, 2013

“BOK Financial was a natural fit for us, as the two organizations share a common philosophy and approach to wealth management based on putting the client's needs front-and-center in our respective planning processes,” said Daryl Craft, Gtrust's president and CEO. “With BOK Financial's fiscal strength, breadth of services and marketing know-how supporting our business, we believe we can provide our clients with an even more comprehensive suite of products and services to support their overall financial needs.”

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.

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by Paul Monies
Energy Reporter
Paul Monies is an energy reporter for The Oklahoman. He has worked at newspapers in Texas and Missouri and most recently was a data journalist for USA Today in the Washington D.C. area. Monies also spent nine years as a business reporter and...
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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.”

Steve Bradshaw,
Senior executive vice president

for BOK Financial

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