Oklahoma business briefs

Oklahoma business briefs for June 12, 2012
Published: June 12, 2012
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OKLAHOMA BRIEFS

Two banks have a shared history

F&M Bank's purchase last week of the failed First Capital Bank of Kingfisher brings together two institutions with a shared history, said Barry Anderson, F&M chief operations officer. “This is really a reuniting of old friends. First Capital Bank of Kingfisher was formed in spring of 1902 by Eugene Byer, and in the fall of 1902 his brother founded Farmers and Merchant Bank in Crescent, which has become F&M Bank,” Anderson said. State regulators on Friday closed First Capital Bank after loan losses depleted the Kingfisher bank's capital. F&M Bank agreed to pay a premium of 7.65 percent to assume First Capital's $46.1 million in assets. “We don't anticipate any changes in staff or interruption of services. All of our customers will continue to enjoy the people and services they've come to rely on. We're looking forward to continuing as a part of the Kingfisher community,” Anderson said. “The market is very similar to our other locations and will make a nice addition to our banking family” F&M Bank has eight locations in Oklahoma City, Edmond, Guthrie, Piedmont, Crescent and now, Kingfisher.

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