IBC Bank-Oklahoma has bought the Caliber Center, the office building it has been leasing from Chesapeake Energy Corp., for an as-yet undisclosed amount.
The 10-story, Class A building at 3817 Northwest Expressway — known as Hertz Financial Center for more than a decade, even after Hertz Corp. moved in 2002 — will continue to house IBC Bank's Oklahoma headquarters.
Hertz sold the building, constructed in 1976, to Caliber Development, led by Jade Noles, in 2007 for $20 million. Caliber spent $5 million to upgrade the building.
Chesapeake Energy bought it just more than a year ago, paying $38.2 million. The Oklahoma County assessor estimated its market value at $30.2 million last March.
The 280,000-square-foot, glass exterior, multitenant building has an underground parking garage and surface parking, with banking services on the ground level, including a four-bay drive-thru, and offices on the second floor.
“Since entering the Oklahoma market in 2004, IBC Bank has invested more than $75 million in new branches and fixed assets in the Sooner State,” said Tom Travis, president and CEO of IBC Bank-Oklahoma. “Our multimillion-dollar investment in this state-of-the-art building tangibly demonstrates IBC Bank's continued deep commitment to its Oklahoma operations and to providing superior customer service in a modern, welcoming environment.”
IBC Bank is led by a local board of directors with members including former Gov. George Nigh, former Oklahoma City Mayor Andrew Coats and Dr. Gilbert “Gib” Gibson, of Lawton.
IBC Bank entered the Oklahoma market in June 2004 with offices at 3601 NW 63. IBC sold that property to Chesapeake in 2007. The bank, which has 60 locations in Oklahoma, had leased headquarters space at 3817 Northwest Expressway since 2008.
IBC Bank — Oklahoma is a division of International Bancshares Corp., a $12.1-billion financial holding company based in Laredo, Texas, with 215 facilities and more than 335 ATMs in 88 communities in Oklahoma and Texas.