Southwest Bancorp.'s plan to rebrand its banks in three states under the name Bank SNB will pave the way for the company to hunt for opportunities to purchase other banks in Oklahoma, Kansas and Texas, CEO Mark Funke said.
“This positions us so we can grow and will prepare us to potentially grow through acquisitions,” Funke said.
New banking regulations that are part of Dodd-Frank Act and the current economic climate are making it more attractive for smaller community banks to consider purchase offers from larger banks, Funke said. Southwest, the parent company of Stillwater National Bank, has a solid balance sheet and is now in a position to begin searching for acquisition opportunities, Funke said.
Funke would like the newly branded Bank SNB to expand its reach in the Oklahoma City and Tulsa markets, as well as the Wichita, Kan., and Dallas metro area.
“We are aggressively looking for opportunities in those markets,” he said.
Subsidiaries to merge
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