BOK Financial Completes Acquisition of First United Bank

BOK Financial Corporation (NASDAQ:BOKF) announced the closing of its acquisition of First United Bank. Shareholders of United Banks of Colorado, the parent company of First United Bank, have approved the acquisition. The transaction, valued at $43 million, became effective today. BOK Financial’s acquisition of First United adds approximately $156 million in assets, $101 million in loans and $134 million in deposits. The acquisition also adds 11 full-service branches to Colorado State Bank and Trust’s growing network, for a total of 15 branches located in the Denver area complemented by one in Colorado Springs and one in Boulder. "This acquisition significantly enhances our branch network by adding locations that complement our existing facilities and extend our reach in the Denver area,” said Steven Nell, BOK Financial Chief Financial Officer. "The expanded presence will provide our customers better convenience while First United’s customers will benefit from our full range of products and services that are competitive with any bank, coast to coast.” BOK Financial acquired Colorado State Bank and Trust in 2003. Since then, Colorado State Bank and Trust’s average assets have nearly tripled. Currently, it has assets of $1 billion while BOK Financial has assets attributable to the Colorado market of $1.6 billion. Colorado State Bank and Trust has loans of nearly $700 million, deposits of more than $869 million and trust assets of $2.7 billion. BOK Financial is an $18 billion holding company headquartered in Tulsa, Oklahoma. BOK Financial operates seven bank subsidiaries that provide services in eight states with more than 160 banking offices. In addition, it offers wealth management services nationwide and owns TransFund, the nation’s 10th largest electronic funds transfer (ATM) network. About BOK Financial BOK Financial is a regional financial services company that provides commercial and consumer banking, investment and trust services, mortgage origination and servicing, and an electronic funds transfer network. Holdings include Bank of Albuquerque, N.A., Bank of Arizona, N.A., Bank of Arkansas, N.A., Bank of Oklahoma, N.A., Bank of Texas, N.A., Bank of Kansas City, N.A., Colorado State Bank & Trust, N.A., BOSC, Inc., the TransFund electronic funds network, Southwest Trust Company, N.A. and AXIA Investment Management, Inc. Shares of BOK Financial are traded on the Nasdaq under the symbol BOKF. For more information, visit www.bokf.com.