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.
