About six months after announcing its acquisition of a Kansas-based wealth management firm, Tulsa-based BOK Financial plans to acquire a similar firm, this one in Texas.
The holding company of Bank of Oklahoma and its mortgage unit, which operates an office at 8110 E. 32nd North in Wichita, said it has agreed to acquire MBM Advisors in Houston. The deal, terms of which were not disclosed, is expected to increase BOK Financial’s retirement and individual assets under management by $1.25 billion.
The acquisition is expected to close in the second quarter of 2014, BOK said in a news release.
The deal follows its recent acquisition of Topeka-based Gtrust Financial Corp., which has an office at 250 N. Rock.