Tulsa World: MidFirst overtakes BOk in deposits

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MidFirst overtakes BOk in deposits
The change reflects MidFirst growth, not BOk decline.

By DON MECOY NewsOK.com
Published: 10/16/2009 2:26 AM
Last Modified: 10/16/2009 5:47 AM

MidFirst Bank has unseated longtime deposits leader Bank of Oklahoma as the state's largest bank, according to data released Thursday by the Federal Deposit Insurance Corp.

MidFirst, with $7.8 billion in deposits, controlled 11.5 percent of all state-based deposits on June 30, according to the FDIC's annual market share report. Tulsa-based Bank of Oklahoma held $7.2 billion in deposits, or 10.7 percent.

The change was due more to MidFirst's growth than Bank of Oklahoma's decline. In the past decade, MidFirst has doubled its market share and much of its growth is due to out-of-state mortgage business rather than Oklahoma-based deposits.

MidFirst officials declined to comment.

Click here to read the complete article at NewsOK.com.

By DON MECOY NewsOK.com

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