7/13/2003

BOK to acquire Colorado bank

The Associated Press

TULSA, Okla. — BOK Financial Corp. said Thursday it has agreed to acquire Colorado Funding Co. for $81.7 million in cash as the parent of Bank of Oklahoma gains its first full-service bank in Denver.

Colorado Funding is the holding corporation for Colorado State Bank and Trust, which has four branches in the Denver area, $316 million in assets and responsibility for $1.6 billion in trust assets, BOK said.

The acquisition comes after Tulsa-based BOK, through its Bank of Oklahoma unit, opened a loan office in Denver in 2002.

BOK’s Denver loan office will become an operating unit of Colorado State Bank and Trust, BOK said.

BOK shares closed down 30 cents at $38 Thursday on the Nasdaq stock exchange.