Oklahoma business briefs, Jan. 25

Oklahoma City-based loan sale adviser First Financial Network Inc. has renewed a five-year agreement with the Federal Deposit Insurance Corp. to value, market and sell assets in FDIC receiverships. First Financial handles loan sales, loan file imaging and indexing, loan valuation, due diligence and loan sale closing services for banks, federal agencies, special servicers, major foreign banks and other lenders. Over the past five years First Financial has aided the FDIC in more than 33 transactions totaling $13.6 billion and has imaged 428,198 documents containing more than 3 million pages and indexed more than 1.5 million documents containing more than 12 million pages as part of its partnership with FDIC.

State banks honored by Forbes

Two Oklahoma banks were highlighted recently as top banks by Forbes in its annual rankings of “America's Best and Worst Banks.” Oklahoma City-based BancFirst was No. 13, and Tulsa-based BOK Financial, parent of Bank of Oklahoma, was No. 22. Forbes used financial data to rank 100 of the largest publicly traded banks and thrifts.

Ring Energy to move to Texas

TULSA — Ring Energy Inc. is replacing its board and executive officers and moving to Midland, Texas, the company announced this week. The moves come after Ring's June acquisition of privately held Stanford Energy, which was owned by Tim Rochford and Stan McCabe. Rochford will be Ring's new board chairman. “The team of seasoned individuals we have assembled and the assets we have in place in areas in which we have knowledge and experienced past success have positioned Ring Energy for growth and ultimately increased shareholder value,” Rochford said. The company, which owns property in four Texas and Kansas counties, will be led by CEO Kelly Hoffman, whose career began with Amoco in 1975.

Documentary to be screened

Oklahoma City University's Meinders School of Business will hold a free screening and discussion of Switch, a documentary discussing the transition from fossil fuels to alternative energy sources. The events will be Feb. 4 and 5 in the Meinders School's Kerr McGee Auditorium. The screening will be from 11 a.m. to 1:15 p.m. Feb. 4. Scott Tinker, director of the Texas Bureau of Economic Geology, will give a presentation about unconventional oil and gas reservoirs from 11 a.m. to 1 p.m. on Feb. 5. Lunch will be provided at both events. Registration is available online at msb.okcu.edu/news-events/events/register or by calling 208-5540.