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In Oklahoma, Frazer Bank to buy 2 branches from Valor Bank

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In Oklahoma, Frazer Bank to buy 2 branches from Valor Bank

Altus, Okla.-based Frazer Bank applied with the Federal Reserve Bank of Kansas City to purchase certain assets and assume certain liabilities of Edmond, Okla.-based Valor Bank's two branches in Oklahoma.

The branches are located at 120 E. 1st St. in Grandfield, and at 102 S. Main St. in Davidson, according to a Federal Reserve release.

As of Dec. 31, 2017, Frazer Bank, a subsidiary of First Altus Bancorp Inc., had approximately $328.0 million in assets, while Valor Bank, a subsidiary of First of Grandfield Corp., had approximately $72.3 million in assets, according to the S&P Global Market Intelligence data.