Tribal owned Oklahoma bank finds in-state expansion through M&A
Chickasaw Community Bank will add $100 million in assets with the purchase of Oklahoma Heritage Bank.
Chickasaw Community Bank in Oklahoma City, Oklahoma, said it plans to acquire Oklahoma Heritage Bank, in Ada.
Terms of the stock purchase agreement were not divulged in the press release.
Chickasaw Community, the banking unit of Chickasaw Banc Holding Company, had total assets of $470 million as of Dec. 31.
The bank lost more than $1.5 million in 2024, according to FDIC data.
The transaction is expected to close late in the second quarter or in the third quarter of 2025. When the transaction closes, Oklahoma Heritage Bank will operate under the trade name of Chickasaw Community Bank.
Oklahoma Heritage Bank was established in Roff, Oklahoma in 1979. Since that time the bank has expanded to include offices in Byng, Stratford and Ada.
The family of Dr. Darryl Fisher has held controlling interest in the bank since 1984. The bank’s total assets were $100 million at the end of 2024.
Oklahoma Heritage earned $39,000 last year after it lost $345,000 in 2023.
“Being part of the Chickasaw Community Bank team allows us to continue to build on our legacy as the premier bank for families and businesses in Pontotoc and Garvin counties,” said Dustin Riddle, Director and President of Oklahoma Heritage Bank.
Chickasaw Community Bank was established in 2002 to bring to fruition Governor Bill Anoatubby’s vision of a tribal owned bank to meet the needs of Indian County and the greater community.
“Oklahoma Heritage Bank is well-respected with four decades of sound, consistent and profitable growth and a dedicated service commitment to its customers and communities,” said Bill Schonacher, CEO of Chickasaw Community Bank.
Oklahoma was also the site of one of 2024’s bank failures.
In October, The Office of the Comptroller of the Currency closed Lindsay, Oklahoma-based First National Bank of Lindsay. Duncan, Oklahoma-based First Bank & Trust Co. then agreed to acquire the failed bank’s insured deposits.
“Every employee of Oklahoma Heritage Bank will be a valued part of our team, so customers can look forward to the same level of service from the same team of dedicated professionals they know and respect.”
– Bill Schonacher
CEO
Chickasaw Community Bank
