First Bank & Trust Co plans merger with Stroud National Bank | The business

First Bank & Trust Co plans merger with Stroud National Bank |  The business

Source www.swoknews.com 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.

Following regulatory approval and the final merger transaction, Stroud National Bank’s name will change to First Bank & Trust Co. “We are a customer-focused bank with an outstanding reputation for service excellence and forming deep customer relationships. We are excited about this opportunity that will complement our strengths and help us grow our presence, expanding our position to Northeastern Oklahoma,” First Bank & Trust Co., Chairman, President & CEO, Robert Petersen said.

“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. First Bank & Trust Co. is an outstanding organization with a longstanding tradition of community involvement and excellent customer service. Their success is a result of their commitment to meeting customer needs with affordable, high-quality products and services. We are excited about the enhanced product and service offerings that our customers will enjoy with this merger,” Stroud National Bank President & CEO Arthur Thompson said. First Bank & Trust Co. plans to acquire all stock of Stroud National Bank, at which time Stroud will be merged into First Bank & Trust Co.

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