Newspaper article THE JOURNAL RECORD

Kaiser: No Liberty Takeover Planned

Newspaper article THE JOURNAL RECORD

Kaiser: No Liberty Takeover Planned

Article excerpt

TULSA (AP) _ The holding company of Oklahoma's largest bank has no interest in taking over Liberty Bancorp Inc., despite recently buying a 4.7 percent stake, the chief executive said.

"Banks agree to merge. They don't make hostile takeovers," said George Kaiser, who owns 78.6 percent of BOK Financial Corp., the parent of Bank of Oklahoma.

Kaiser said Monday the purchase of 489,205 shares of Liberty from a Maryland investment group was merely a stock investment and an effort to make sure Liberty and BOK remained Oklahoma owned.

Banking observers were hesitant to evaluate BOK's activity. Some still question Kaiser's decision to buy Bank of Oklahoma in 1990; he has more than tripled the value of his $110 million investment since then.

While downplaying speculation of a merger, Kaiser said certain conditions could make such a move more likely.

"I wouldn't rule out anything," he said.

Still, there are some hurdles that would prevent a merger of Bank of Oklahoma with Liberty's two main bank properties _ Liberty Bank Trust Co. …

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