23 January 2004
A little less Local
The parent company of Local Oklahoma Bank, a former S&L which ranks as the state's seventh-biggest bank, will be acquired by Texas-based International Bancshares Corp. for $385 million. This is IBC's first acquisition outside Texas; the bank, headquartered in Laredo, seeks to build a presence along the I-35 corridor. (Is Wichita next?)
The deal should close by summer; the signs will presumably be changed shortly thereafter.