Newspaper article THE JOURNAL RECORD

BOK Inks Third D-FW Bank Deal

Newspaper article THE JOURNAL RECORD

BOK Inks Third D-FW Bank Deal

Article excerpt

Just days after revealing two Dallas-Fort Worth acquisitions, BOK Financial topped them Monday with still another Dallas coup -- an agreement to acquire the $223 million Dallas institution Swiss Avenue Bank.

The three acquisitions will be merged into BOKF's Bank of Texas unit, raising its assets to about $936 million from its current $540 million. The total assets for BOKF will rise to about $7.2 billion from $6.8 billion.

On March 1, the company announced plans to acquire the Texas holding companies of Canyon Creek National Bank of Richardson and Mid-Cities National Bank of Hurst. All three acquisitions should be completed in the second quarter. Burns Hargis, vice chairman of BOKF, said the announcements add momentum to the rapid growth the bank is already experiencing. "In 1998, during its first full year of operation, Bank of Texas grew by $130 million," Hargis said. "Now, with the pending addition of three strong community-based banks, we are well positioned to further enhance our niche in Dallas-Fort Worth as a bank that effectively fills the void between small, community banks and large megabanks." These deals, he said, are further evidence of BOK Financial's commitment to build a meaningful presence in growing markets in the Southwest. "Coupled with the formation of our new Bank of Albuquerque last year, BOK Financial has positioned itself to leverage its strengths in trust, private banking, asset management, commercial lending and our electronic funds network to an ever-growing customer base." Swiss Avenue Bank, located near the Baylor University Medical Center, has long catered to the area's clinics and doctors. A second facility is located in Oak Cliff, at 12th and Zang near the historic Winnetka Heights, and a third facility is on Walnut Hill Lane, across from Presbyterian Hospital of Dallas. …

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