MidFirst Bank

MidFirst Bank is a privately owned bank in the United States based in Oklahoma City, Oklahoma. Its primary markets include Oklahoma City, Tulsa, western Oklahoma, Denver, Phoenix and Dallas, with commercial lending offices in Atlanta, Boston, Chicago, Cleveland, Houston, New York City, St. Louis and Southern California. MidFirst Bank also has full-service banking centers in Boulder and Edwards, Colorado. MidFirst Bank offers personal, commercial, trust, private banking and mortgage banking products and services. Additionally, the bank operates 1st Century Bank of Los Angeles[2][3] as a division of MidFirst Bank and MidFirst Business Credit of Atlanta as a subsidiary of MidFirst Bank.[4]

MidFirst Bank
Privately held company
Founded1982 (1982)
Headquarters
Oklahoma City
,
United States
Area served
Oklahoma City; Tulsa; western Oklahoma; Phoenix, Arizona; Boulder, Colorado; Edwards, Colorado; Denver, Colorado; Los Angeles, California; Dallas, Texas
Key people
  • G. Jeffrey Records, Jr. (Chairman, CEO)
ProductsAsset management, banking, commercial banking, consumer banking, corporate banking, credit cards, consumer finance, finance and insurance, financial services, mobile banking, global wealth management, insurance, investment banking, investment management, money market trading, mortgage loans, prime brokerage, private banking, retail banking, retail brokerage, wealth management
  • U.S. $60.2 million (YTD Q1 2020)
[1]
Total assets
  • U.S. $24.2 billion (Q1 2020)
[1]
Divisions
  • MidFirst Business Credit,
  • 1st Century Bank
Websitemidfirst.com

History

The Midland Group began in 1954 when W.R. Johnston, an experienced Oklahoma banker, purchased a 50% share in Midland Mortgage Company, an Oklahoma City–based company that had been formed four years earlier by a handful of individual investors. By 1963, Johnston and his son-in-law, George Records, had purchased the remaining 50%. Today, the Records family owns 100% of the Midland Group.

In 1982, Midland Financial Co. purchased a newly formed charter bank in Stilwell, Oklahoma, named it MidFirst Bank and moved it to Oklahoma City. At the end of its first year, the bank had $1.7 million in assets and five employees.

In 2009, MidFirst Bank acquired Community Bank of Arizona and Union Bank.[5]

In 2015, MidFirst Bank acquired Denver-based Steele Street Bank & Trust, a locally owned and operated community bank.[6]

In July 2016, MidFirst Bank acquired 1st Century Bancshares in Los Angeles. After the merger, MidFirst Bank's combined assets totaled more than $12 billion.[2][3]

Today, MidFirst Bank is the largest privately owned bank in the United States, serving more than 625,000 customers.[7] The bank offers a full range of commercial, trust, private banking and mortgage banking products, and it serves as a commercial real estate lender and major servicer of mortgage loans nationally. Primary markets include Oklahoma City, Denver, Phoenix, Tulsa, Dallas and western Oklahoma. MidFirst Bank also operates full-service banking centers in Boulder and Edwards, Colorado, and commercial lending offices in Atlanta, Boston, Chicago, Cleveland, Houston, New York City, St. Louis and Southern California.

MidFirst chairman and CEO G. Jeffrey Records, Jr. is a part-owner of the Oklahoma City Thunder of the NBA through its ownership group, The Professional Basketball Club LLC.[8]

Community Commitment

MidFirst serves others through philanthropy, the voluntarism of its employees through the True Corps program and many corporate partnerships and sponsorships.[9][10][11][12][13] The bank also offers financial education programs and workshops to help the community.[14][15]

MidFirst Bank's financial education programs have received national recognition with an Honorable Mention in both the 2016 and 2018 American Bankers Association Community Commitment Awards.[16][17] Additionally, MidFirst has collaborated with the University of Oklahoma in providing the MoneyCoach financial education program.[18]

MidFirst was awarded the 2019 Excellence In Financial Literacy Education (EIFLE) Award for Organization of the Year (For-Profit) from the Institute for Financial Literacy.[19]

MidFirst Bank has been voted Best Bank by The Oklahoman for six years in a row, and Best Online and Mobile Banking two years in a row.[20]

In 2018, MidFirst Bank received the highest ranking in the Southwest region and the highest overall score in the nation in the J.D. Power U.S. Retail Banking Satisfactory Study. In the 2019 J.D. Power U.S. Retail Banking Satisfaction Study, MidFirst Bank received the highest retail banking satisfaction score in the Southwest region.

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References
  1. MidFirst Financial Reports
  2. "Oklahoma's MidFirst Bank seeks to grow through California bank acquisition". Retrieved 11 March 2016.
  3. "Midland Financial Co. And 1st Century Bancshares, Inc. Complete Merger Transaction". Midfirst.com. Retrieved 5 July 2016.
  4. MidFirst Bank acquires Presidential Financial Corp., Phoenix Business Journal, 8 March 2013
  5. Alston & Bird LLP - Lindsay Young. "MidFirst Bank assumes deposits of Union Bank N.A. and Community Bank of Arizona - Lexology".
  6. MidFirst Bank completes buy of Denver's Steele Street Bank & Trust, Denver Business Journal, 7 January 2015
  7. "Oklahoma's MidFirst Bank seeks to grow through California bank acquisition". http://newsok.com. NewsOK. 2016-03-11. Retrieved 11 March 2016. External link in |website= (help)
  8. Thunder Roll Archived 2016-03-07 at the Wayback Machine, Oklahoma Today, Jan/Feb 2009
  9. "Local Sponsors". Komen Central Western OK. Archived from the original on 2016-04-16. Retrieved 2016-04-04.
  10. "American Heart Association Heart Walk". American Heart Association.
  11. "Tulsa International Mayfest presented by Midfirst Bank". Tulsa MayFest.
  12. . ASU https://magazine.asu.edu/cards. Missing or empty |title= (help)
  13. "The Oklahoma City Thunder's Starting Five". NBA.
  14. "MoneyMoments". ASU. 2013-06-18.
  15. "Money Moments Financial Literacy Workshop".
  16. "2016 Community Commitment Awards Winners" (PDF). ABA.
  17. "2018 Community Commitment Awards Winners". ABA.
  18. "OU In Collaboration With MidFirst Bank Launches Financial Education Program for Incoming Students". OU.
  19. url = http://eifleawards.org/wordpress/hall-of-fame/2019-winners
  20. url = https://www.okmag.com/blog/2019/06/24/the-best-of-the-best-2019/
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