Mergers transform banking sector

Two large bank mergers took place in 2018 that could greatly impact the commercial banking market in the state.

Tulsa, Okla.-based BOK Financial Corp. announced its merger with CoBiz Financial Inc. in June. The deal, which closed Oct. 1, 2018, was estimated at nearly $1 billion in stock and cash.

Independent Bank Group Inc. announced its acquisition of Guaranty Bancorp in May. The deal, which is expected closed Jan. 1, 2019, is valued at $1 billion based on the closing price of Independent Bank’s common stock at $78.60 per share on May 21.