In a move to strategically align its operations with evolving customer preferences and technology, Vast Bank, N.A. (“Vast Bank”) has entered into definitive agreements with Armstrong Bank under which Vast Bank will divest four of its branch locations.
Armstrong Bank, headquartered in Muskogee, will acquire certain assets and deposits associated with the Catoosa, Collinsville, Oologah, and Owasso branch locations of Vast Bank.
“We are very pleased to expand our footprint in Oklahoma,” said CEO of Armstrong Bank, Billy Taylor. “As a family-owned community bank established in 1909, we are honored to bring our unwavering integrity, exceptional customer service, and access to innovative financial products to the communities of Owasso, Collinsville, Catoosa, and Oologah.”
The closing of the transactions is expected to occur in September, subject to the parties’ receipt of required regulatory approvals and the satisfaction of customary closing conditions. The customers of these branches will receive additional information regarding the transaction in the near future. All other Vast Bank locations will remain unchanged and under the same ownership of the Biolchini family.
“Vast Bank has been forging a new path over the last several years to provide the best service possible to our customers in a rapidly changing world where consumer preferences and technology are both evolving quickly,” said Vast Bank President and CEO Brad Scrivner. “We have made the promise to understand customers deeply, build authentic relationships and embrace constant improvement. Our commitment remains to be a market-leading bank that leverages top-notch customer service with the best of modern technology.”
Vast Bank remains committed to the innovative people who make this community such a vibrant place to live and work. They plan to continue offering experiences that are relevant, convenient, comprehensive and secure in order to make banking surprisingly easy.
Vast Bank will host the postponed grand opening of its new downtown Tulsa headquarters in fall 2020.