Community Bank Parent Merges with ONB Bank
Twenty-First Century Financial Services Company and Central Bancompany have jointly announced an agreement in which Twenty-First Century will merge with Central Bancompany, according to Tom Bennett of ONB Bank and Trust Company. Twenty First Century is the parent company of ONB Bank and Trust Company.
Central Bancompany is a $7 billion multi-bank holding company headquartered in Jefferson City, Mo. and has 13 bank subsidiaries with 12 in Missouri in addition to Community Bank and Trust Co. in Tulsa. Each subsidiary bank operates with a separate bank charter, a local board of directors and local management.
According to Bennett, it is anticipated that Central Bancompany will combine ONB Bank and Trust Company and Community Bank of Tulsa by the end of 2007. Randy Allison, Chairman and CEO of Community Bank, said, “We are taking two great Oklahoma banks and turning them into one phenomenal Oklahoma bank.”
If the two banks had been combined as of Sept. 30, 2006, they would have had $562.5 million in assets, making them the 13th largest bank in Oklahoma, the 5th largest bank in the Tulsa MSA, and the 4th largest bank headquartered in Tulsa.
Twenty-First Century Financial Services is a financial services holding company founded in 1999. It opened its wholly-owned subsidiary Oklahoma National Bank on Jan. 20, 2000. In December, 2004, the bank changed to a state bank charter and changed its name to ONB Bank and Trust Company.
Community Bank and Trust Company was established on Jan. 1, 1934 and was acquired by Central Bancompany in May, 2004.
Updated 01-23-2007
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