Question

BancFirst is MOST likely a​ _________.

A.

commercial bank

B.

securities investment broker

C.

finance company

D.

credit union

E.

savings and loan association

Answer 1

The Bancfirst was incorporated as a bank holding company under the name United Community Corporation in July 1984. In 1985 it merged with 7 Oklahoma bank holding companies. The company started it business as a bank holding company at the early years of its incorporation. After several years the corporation acquired several banks and bank holding companies. In 1988 the corporation received a new name i.e BancFirst Corporation.

The BancFirst emphasis on providing commercial banking services to retail, small and medium businesses which are locating in the metropolitan cities of Oklahoma. The bank has a variety of commercial banking services like financing commerce, real estate, agriculture and consumer lending, fund transfer services, depository services, safe deposits, retail brokerage services.

The bank primarily lending to small and medium sized business and industry. Its customers are basically local wholesale and retail traders, residential and real estate customers, customers from construction, services agriculture and energy industry.

The bank’s deposit services consist of checking account, savings account, money market account, sweep accounts, club accounts, retirement accounts and certificate of deposits. These deposits are covered by the insurance protection of Federal Deposit Insurance Corporation.

Answer: Commercial bank.