MidFirst Bank

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MidFirst Bank
Private
Founded 1982 (1982)
Headquarters Oklahoma City, United States
Area served
Oklahoma City; Tulsa; western Oklahoma; Phoenix, Arizona; Denver, Colorado
Key people
  • G. Jeffrey Records, Jr. (Chairman, CEO)
Products Asset management, banking, commercial banking, consumer banking, corporate banking, credit cards, consumer finance, finance and insurance, financial services, insurance, investment management, 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
  • Increase US $272.7 million (2015)
[1]
Total assets
  • Increase US $11.6 billion (2015)
[2]
Subsidiaries
  • Presidential Financial Corporation
Slogan True to Your Money®
Website midfirst.com

MidFirst Bank is an Oklahoma City, Oklahoma-based bank, concentrated in the state of Oklahoma and Phoenix, Arizona. It is one of the largest privately owned banks in the United States and the largest in Arizona.

History

The Midland Group began in 1954 when W.R. Johnston, an experienced Oklahoma banker, purchased a 50 percent 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 percent. Today, the Records family owns 100 percent of the Midland Group.

In 1982, Midland Financial Co. purchased a newly formed charter bank in Stilwell, Oklahoma, named it to 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.

Today, MidFirst Bank is one of the largest privately owned banks in the United States, serving more than 600,000 customers. The bank offers a full range of commercial, trust, private banking and mortgage banking products, and serves as a commercial real estate lender and major servicer of mortgage loans nationally. Primary markets include Oklahoma City, Denver, Phoenix, Tulsa and western Oklahoma, with commercial real estate lending offices in Atlanta, Houston, New York and Southern California.

MidFirst Bank History Timeline

2016

MidFirst Bank announces its entry into the Los Angeles market with the acquisition of 1st Century Bank.[3]

2015

MidFirst Bank acquires Denver-based Steele Street & Trust, a locally owned and operated community bank that is Colorado's only bank named to the prestigious SNL Financial Top 100 Best Performing Community Banks. [4]

2014

A new location for the Memorial Union banking center on the Arizona State University Tempe campus opens. The original MU banking center, opened in 2012, is transitioned to a production office.

2013

A new banking center opens in the University Center on the Downtown Phoenix Campus of Arizona State University, bringing the total number of banking centers in the Valley to 25.

MidFirst and the University of Central Oklahoma enter into a 10-year partnership that will provide personalized banking services to the students, employees and supporters of the university.[5]

MidFirst Bank acquires Atlanta-based Presidential Financial Corporation, an asset-based secured lender that provides growth capital to businesses and healthcare providers nationwide. [6]

2012

MidFirst launches a free mobile banking application for iPhone and Android users that allows customers to make deposits, pay bills and conduct other banking activities.

MidFirst Bank and Arizona State University enter into an 11-year comprehensive strategic alliance that consolidates personalized banking services, including a MasterCard® check card and student/employee ID program; ASU MasterCard® check cards, credit cards and gift cards; financial-literacy classes; and a comprehensive sports-marketing package.[7][8]

The United States Small Business Administration awarded MidFirst Bank “Preferred Lender Program,” their premier accreditation.[9]

2011

The Midland Group’s affiliate, Midland Mortgage Co., becomes Midland Mortgage, a division of MidFirst Bank.

2010

The Midland Group celebrates its 60th anniversary.

2009

MidFirst celebrates 14 grand openings in Arizona.

MidFirst Bank acquires Community Bank of Arizona and Union Bank.[10]

2008

With respect to return on equity, MidFirst Bank ranks first for institutions with more than $3 billion in assets.

2007

MidFirst opens its new Arizona headquarters at 3030 E. Camelback in Phoenix and the second Phoenix banking center at Central & Washington.

MidFirst and the University of Oklahoma enter into a 10-year agreement, providing the bank with exclusive rights to market the university’s logo on checks, check cards and gift cards.[11]

2006

The American Bankers Association in the June 2006 edition of its Banking Journal identifies MidFirst Bank as the top performing privately owned financial institution in the United States for 2005.[12]

2003

MidFirst enters the Phoenix market with a commercial real estate loan production office focused on income property lending.

2002

MidFirst celebrates the grand opening of its flagship Oklahoma banking center location while achieving record earnings for the 12th consecutive year. Net earnings soar to $222 million, an increase of more than 50 percent over 2001.

1982

The Midland Group purchases a newly formed financial institution and names it MidFirst Bank.

Financial Education

The MoneyMoments® Financial Education program helps the communities in which MidFirst Bank serves to develop strong money management skills. Financial workshops and special events engage students of all ages and adults in personal learning experiences, while the online interactive tutorials provide convenient access to financial information. The multifaceted learning opportunities range from teaching children practical money management skills to helping adults save for retirement.

The road to financial success begins with strong money management skills. MoneyMoments helps to guide with tools and information to help keep an individual’s finances on track, including:

  • Banking Basics
  • Saving and Spending
  • Credit and Borrowing
  • Fraud
  • Identity Theft

Community Commitment

MidFirst is committed to the communities it serves through philanthropy, voluntarism of its employees through the True Corps program and many corporate partnerships and sponsorships. From education, to professional sports, and a wide range of civic oriented and charitable organizations, MidFirst Bank is dedicated to giving back to the community.

Sponsorships

MidFirst Bank is the official bank of Arizona State University,[13] the Oklahoma City Thunder,[14] Oklahoma City Dodgers,[15] and the University of Central Oklahoma.[16] It also offers Arizona State University, Oklahoma City Thunder, University of Central Oklahoma and Oklahoma State University[17] debit and credit cards and University of Oklahoma and University of Tulsa debit cards.[18]

MidFirst supports many causes through its card debit card programs including the Pink Card for breast cancer awareness, [19]the Heart Card for heart health [20] and the Art Card supporting the Oklahoma City Arts Council.[21] The Pink Card alone has raised more than $1 million for breast cancer awareness and research.

External Links

Management

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.[22]

References

  1. MidFirst 2015 financial reports
  2. MidFirst 2015 financial reports
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  4. MidFirst Bank completes buy of Denver's Steele Street Bank & Trust, Denver Business Journal, 7 January 2015
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  6. MidFirst Bank acquires Presidential Financial Corp., Phoenix Business Journal, 8 March 2013
  7. MidFirst Bank growing, hiring 170 employees, Phoenix Business Journal, 6 June 2008
  8. MidFirst Bank partnership to change university ID and banking, The State Press, 4 April 2012
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  10. MidFirst Bank assumes deposits of Union Bank N.A. and Community Bank of Arizona
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  22. Thunder Roll, Oklahoma Today, Jan/Feb 2009