Stroud National Bank will merge with First Bank & Trust Co., headquartered in Duncan, the banks have announced.
First Bank & Trust Co. plans to acquire all stock of Stroud National Bank, at which time the Stroud bank will be merged into First Bank & Trust Co.
“We are a customer-focused bank with an outstanding reputation for service excellence and forming deep customer relationships,” said First Bank & Trust Co., Chairman, President & CEO Robert Petersen, “We are excited about this opportunity that will complement our strengths and help us grow our presence, expanding our position to Northeastern Oklahoma.
“We take pride in providing great personal service and supporting our communities. Our plan is to maintain those strong qualities in all the locations we serve.” First Bank & Trust Co., currently has offices in Duncan, Ardmore, Waurika, Healdton, Norman and Edmond. Stroud National Bank has offices in Stroud, Wellston and Perkins.
Following regulatory approval and the final merger transaction, Stroud National Bank’s name will change to First Bank & Trust Co.
“While the bank’s name will be changing, our customers will continue to be served by the same dedicated employees with a strong commitment to our communities.” said Stroud National Bank President & CEO Arthur Thompson.
Completion of this merger is expected to occur in the third quarter of 2021, pending receipt of all required regulatory and shareholder approvals. Both First Bank & Trust Co. and Stroud National Bank are equal housing lenders and members of the FDIC.