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.