Southwest Bancorp.'s plan to rebrand its banks in three states under the name Bank SNB will pave the way for the company to hunt for opportunities to purchase other banks in Oklahoma, Kansas and Texas, CEO Mark Funke said.
The new logo for Bank SNB, which will become the name for all the banking subsidiaries of Southwest Bancorp, including Stillwater National Bank.
“This positions us so we can grow and will prepare us to potentially grow through acquisitions,” Funke said.
New banking regulations that are part of Dodd-Frank Act and the current economic climate are making it more attractive for smaller community banks to consider purchase offers from larger banks, Funke said. Southwest, the parent company of Stillwater National Bank, has a solid balance sheet and is now in a position to begin searching for acquisition opportunities, Funke said.
Funke would like the newly branded Bank SNB to expand its reach in the Oklahoma City and Tulsa markets, as well as the Wichita, Kan., and Dallas metro area.
“We are aggressively looking for opportunities in those markets,” he said.
Subsidiaries to merge
On Nov. 15, Bank of Kansas will merge into Stillwater National Bank and Trust Co., consolidating all of Southwest Bancorp Inc.'s subsidiaries into the same national charter. The next day, all of the firm's banks in Oklahoma, Texas and Kansas will carry the name Bank SNB.
Stillwater National Bank has offices in Stillwater, Tulsa, Oklahoma City, Edmond and Chickasha. In 2002, the bank expanded into Texas, operating as SNB Bank of Dallas, SNB Bank of Austin, SNB Bank of San Antonio and SNB McMullen Bank in Tilden. Bank of Kansas, purchased by Southwest Bancorp in July 2007, operates seven branches in Kansas.
As part of the merger, Southwest's 29,000 customers will be able to do business with any of its other subsidiary banks across the company's three-state footprint.
Source: southwest - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFfK_cQiyLzWj3MbikdoIbmlKJtuA&url=http://newsok.com/ceo-rebranding-positions-southwest-bancorp-for-growth/article/3900191
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