Regulators Aid Troubled Bank in Oklahoma
Federal officials Friday announced a $130-million aid program for Bank of Oklahoma in Oklahoma City and said it had been in danger of closing because of financial problems.
The plan outlined by the Federal Deposit Insurance Corp. calls for the bank to be merged into a sister bank in Tulsa, Okla., with the federal government becoming a $90-million stockholder in the institution.
Bank of Oklahoma, Oklahoma City--one of 11 banking subsidiaries of BancOklahoma, a bank holding company with assets of more than $2.5 billion--will be merged into the $1.6-billion Bank of Oklahoma, Tulsa, under the agreement. The Tulsa institution is the largest component of BancOklahoma.
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