Share “Interbank to purchase Dallas-based bank”

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
Advertisement

Oklahoma City-based InterBank’s acquisition of troubled Park Cities Bank will allow Interbank to strengthen its presence in the Dallas-Fort Worth Metroplex.

Park Cities Bank has about $400 million in assets, and about 70 employees. Founded in 2000, Park Cities Bank has four branches, three in Dallas and one in Fort Worth. Park Cities Bank has been operating since 2010 under orders from bank regulators to strengthen capital.

The purchase will allow InterBank, which has a presence primarily in Oklahoma and west Texas, to boost its visibility in the Dallas area, said Mike Sterkel, president of the Oklahoma region for InterBank.

“We do a considerable amount of business in the Metroplex. We just feel that this acquisition will give us a market presence in that growing vibrant market and will come with growing banking opportunities,” Sterkel said. “It’s a natural sort of expansion of our footprint.”

Interbank is Oklahoma’s sixth-largest bank with about $2.1 billion in assets, according to the Federal Deposit Insurance Corp

InterBank put a winning bid of $11.4 million to purchase Dallas-based Park Cities Bank out of bankruptcy court from parent company North Texas Bancshares Inc. in December.

Continue reading this story on the...

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 University of Oklahoma and has worked at several newspapers in Oklahoma and Southern...
+ show more


AROUND THE WEB

  1. 1
    Ben Affleck tried to hide his ancestor's slave-owning from 'Roots'
  2. 2
    After NH confab: Rubio rising, Walker steady, Bush plodding, Christie returning from dead |...
  3. 3
    By one measure, Hillary earned more than America's top 10 CEOs | WashingtonExaminer.com
  4. 4
    Expert: Obama's amnesty 'profoundly unfair' to 4 million legal immigrants | WashingtonExaminer.com
  5. 5
    The original AP report of Oklahoma bombing
+ show more