Interbank to purchase Dallas-based bank

Oklahoma City-based Interbank says its purchase of Dallas-based Park Cities Bank will boost the firm’s business in the Dallas area.
Oklahoman Modified: February 19, 2014 at 6:00 pm •  Published: February 18, 2014

Federal regulators have already approved the sale. The Oklahoma Banking Board is schedule to consider approving InterBank’s acquisition of Park Cities Bank at its meeting Wednesday.

InterBank is confident the banking board will approve the transaction, Sterkel said.

The sale to InterBank is expected to close Feb. 28. On March 1, Park Cities Bank branches will become branches of InterBank, but will maintain the Park Cities Bank brand.

Park Cities Bank’s holding company, North Texas Bancshares Inc. filed for Chapter 11 in Delaware in October.

The bank holding company blamed bad real estate loans and lower natural gas prices for the bankruptcy.

“The bank has some problems, but the bigger issues were with the holding company, which was unable to fulfill its debt obligations,” Sterkel said.

by Brianna Bailey
Business Writer
Brianna Bailey has lived in Idaho, Germany and Southern California, but Oklahoma is her adopted home. She has a bachelor's degree in Journalism from the Univerisity of Oklahoma and has worked at several newspapers in Oklahoma and Southern...
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