Newspaper article THE JOURNAL RECORD

Shareholders Back Arvest's Purchase of First Bancshares

Newspaper article THE JOURNAL RECORD

Shareholders Back Arvest's Purchase of First Bancshares

Article excerpt

BARTLESVILLE _ Shareholders of First Bancshares Inc. have approved the purchase of the Bartlesville company by Arvest Bank Group of Bentonville, Ark., it was announced Thursday.

First Bancshares owns WestStar Bank in Bartlesville, which has branches in Oklahoma City at 3900 N. Lincoln Blvd. and in Dewey. It is the ninth largest bank in Oklahoma with assets of $430 million at the end of 1993.

WestStar Bank in Oklahoma City has 30 employees.

First Bancshares also owns WestStar Bank of Tulsa with assets of about $40 million.

The agreement is pending regulatory approval which could take up to 180 days. Terms were not announced.

The Arvest Banking Group also owns a group of banks in northwest Arkansas including Bank of Bentonville, First National Bank of Siloam Springs, First National Bank Trust of Rogers, Springdale Bank Trust and McIlroy Bank Trust in Fayetteville. Arvest also owns State Bank Trust NA in Tulsa and 50 percent of Security National Bank in Norman. …

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