ALVA— Grace Investment Company, Inc., has announced the merger of its two wholly owned banks.
The merger of First National Bank in Okeene into Alva State Bank and Trust company will result in each bank doing business from their current locations, under the same charter and becoming a banking organization with $590 million in total assets. The parties are seeking regulatory approval from both state and federal banking regulators and intend to close the transaction following regulatory approvals in the next several months.
Peggy Wisdom, President of Grace Investment Company said, “the merger will expand our locations in Northwest Oklahoma to five branches and one branch in Kansas, which will provide more locations to serve our valued customers. The merger will not impede our employees’ focus on developing personal financial relationships and supporting the communities that we serve. Expansion of electronic banking options to all sites is anticipated to increase the access and speed of banking services.”
The combination of assets and skills of our combined employees will create a stronger and more flexible institution.