First Oklahoma Bank

In a little over 13 years, First Oklahoma Bank has grown into a leading local financial institution with more than $1 billion in assets.

The bank is now relying on the same visionary outlook that has propelled its Tulsa-area growth to expand into the Oklahoma City market, where it opened a loan production office in 2022.

“What started as a bold idea born in the depths of the Great Recession, now has grown into a vibrant and growing banking franchise,” said President and CEO Tom Bennett III. “For the first $1 billion in assets, we have largely focused on growing a deep banking presence in the Tulsa area. Instead of building a physical branch network, we have heavily invested in technology and people to grow assets from an intentionally smaller physical footprint. We have constructed a solid base by which we can launch new initiatives.”

First Oklahoma Bank’s entrepreneurial spirit, consistency and quality-growth business model set it apart. First Oklahoma is owned and operated by people who live and work in Oklahoma, understand the local economy, and can adapt to customers’ needs without the bureaucracy of big banks

In addition to offering competitive CD rates and concierge-level services, the full-service bank is a leader in local deposits, Treasury services, and lending to small- and medium-sized businesses.

“Since our founding, we have consistently had to navigate a changing economic environment. We have weathered two massive downturns in oil/gas, managed through a pandemic-driven economic shutdown, and helped to facilitate one of the government’s most direct relief programs – the Paycheck Protection Program. Along the way, we have profitably grown and built a resilient/ entrepreneurial banking company,” Bennett said.

First Oklahoma’s interpersonal connections are evident through the many charitable causes it supports. The bank’s annual local United Way fundraising campaigns have led it to being recognized as a “Best of the Best” company for 13 consecutive years. The bank also helped found

Jenks CarePoint, which provides free clothing and shoes to families in need in the Jenks and south Tulsa area. First Oklahoma has a robust outreach to immigrants and has supported Afghan families who have been resettled in the Tulsa area.

First Oklahoma Bank was established on Nov. 4, 2009, when First Oklahoma Holdings Inc. acquired Glencoe State Bank. With a staff or more than 125 bankers, First Oklahoma has locations in Jenks, midtown Tulsa, Glencoe and now an LPO in Oklahoma City.

“We have always had big dreams. With the support of shareholders and customers, we have been able to recruit a staff capable of achieving far more than what we originally thought possible. Our collective efforts will continue to pay off in the future,” Bennett said. “I’m very excited to see our brand grow.”

First Oklahoma Bank invites Oklahomans to “Move up to Better Banking” by calling 918-392-2500 or visiting firstoklahombank.com. Member F.D.I.C.

However, she is encouraged by total job growth over the year. Manufacturing faces global headwinds with supply chain issues, reshoring, labor shortage and a host of other issues.

Just like most regions, the manufacturing industry is yet to recoup all the jobs lost during the pandemic. According to Abrokwah, as of November 2022, the industry was just 100 jobs shy of its pre-pandemic job levels.

Tulsa’s low cost of living, vibrant culture, central location and business friendly environment has attracted quite a bit of attention from outside businesses. “The Chamber’s economic development team works tirelessly to attract top talents and business into the region while providing the needed resources for existing companies and talents to thrive,” Abrokwah said. “Several people and companies are relocating to Tulsa due to the efforts of the Chamber and its partners and the numerous accolades received by the region as having low cost of living and affordable housing and real estate. The region is poised for major growth.”

The local banking industry also continues to expand steadily.

“Many Oklahoma banks are coming off very strong years as they have benefited from rising interest rates,” Stratton said. “At BOK Financial, our credit portfolio is as strong as it has ever been and we are still actively hiring around our footprint and in Tulsa, so we feel good about the local economy.”

There is no doubt the past three years have required a reframing of the economic landscape locally and beyond. However, valuable lessons have been learned about the workforce potential and its possibilities — especially in terms of how and where people work.

“For many companies, technology taught them that employees can, in some cases, get their work done when not in the office. However, I think the jury is still out in terms of how well it works long-term,” Stratton said. “In many ways, the Tulsa Remote program allows Tulsa to take advantage of this movement as it has allowed those employees with that flexibility to explore Tulsa when they otherwise would not have. The flip side of that is while many acknowledge remote work and technology are tools that can augment how we do business, I think most people would still say the best relationships, experiences and cultures are built in person. So, I think it’s trying to figure out how you balance those that will remain the ongoing question for some companies.”

Commercial Banks In Tulsa County

1 THOUSANDS OF DOLLARS.

2 BANKS HEADQUARTERED OUTSIDE TULSA COUNTY.

DATA NOTES: FINANCIALS REPRESENT TOTAL AMOUNTS OF ALL LOCATIONS WITHIN TULSA COUNTY FOR EACH BANK.

SOURCE: FEDERAL DEPOSIT INSURANCE CORPORATION, STATISTICS ON DEPOSITORY INSTITUTIONS.

DATA AS OF JUNE 30, 2022.