RCB Holding Company and Oklahoma State Bancshares Inc. agree to merger
Local community bank expanding footprint
(CLAREMORE, OK) RCB Holding Company (RCBHC) is expanding its presence in Oklahoma with the merger of Oklahoma State Bancshares Inc. (OSBI), and its subsidiary banks, Oklahoma State Bank and Lakeside State Bank with RCB Bank. The sale is expected to close in the third quarter of 2021 pending regulatory approval. All Oklahoma State Bank locations and Lakeside State Bank locations are included in the transaction. The locations will continue to operate as Oklahoma State Bank and Lakeside State Bank respectively until late third quarter 2021.
“What attracted us to the Hartley’s bank was the bank’s reputation and their employees within each of their communities,” said Roger Mosier, RCBHC president and CEO. “Oklahoma State Bank and Lakeside State Bank are both integral partners in their communities; RCB Bank strives to be the same partner in the 30 communities we serve in Oklahoma and Kansas.”
Oklahoma State Bancshares Inc., headquartered in Vinita, OK, has $306 million in assets and 64 employees throughout the holding company.
“While one chapter of Hartley family ownership of OSBI closes, another one opens. We have known the Robson family for a long time and are thrilled to partner with RCB Bank. Our discussions with RCB Bank’s team confirmed for us that this partnership will be a win-win for all of our constituents including employees, customers and the communities we serve,” said Monty Hartley, Chairman of Oklahoma State Bancshares Inc..
With the addition of Oklahoma State Bank Shares Inc., RCB Bank will expand to 64 locations across Oklahoma and Kansas, and over $4 billion in assets.
“The employees of Oklahoma State Bank and Lakeside State Bank have built their reputation on customer service. Since 1936, RCB Bank has used the same core values of customer service and community banking to grow our business. We believe the customers of OSBI will appreciate the expanded services we will bring to their current banking relationship,” said Mosier. “The locations in Vinita, Oologah, Langley, Chelsea and Monkey Island will provide our existing customers in Green Country more banking opportunities.”
Hartley added, “Both of our banks have a long tradition of building strong relationships within the communities we serve. The products and services offered by RCB Bank should further enhance the relationships in our communities.”
About Oklahoma State Bancshares Inc.
Oklahoma State Bancshares is an Oklahoma-based $306 million bank holding company with two full-service community banks serving five Oklahoma communities with 64 employees. Oklahoma State Bank, founded in 1938 and Lakeside State Bank, founded in 1976, provide trusted banking services to its customers. For more information go to www.okstate.bank or www.lakesidebankok.com. Member FDIC and Equal Housing Lender. NMLS #787848 and #459032
Gene Katz, Managing Director, Investment Banking, D.A. Davidson, served as financial advisor and Gregg Eichner, Shareholder, McAfee & Taft, served as Legal Counsel to Oklahoma State Bancshares Inc.
About RCB Holding Company
RCB Holding Company is a one-bank holding company, comprised of RCB Bank, a $3.69 billion community bank with over 700 employees and 59 locations in Oklahoma and Kansas. Founded in 1936 in Claremore, OK, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. For additional information, visit us online at RCBbank.com. Member FDIC and Equal Housing Lender. NMLS #798151
Jacquelyn Bateman Kruppa, Counsel, Hunton and Williams served as Legal Counsel to RCB Holding Co.