2008 Press Releases
MidFirst Third Quarter Earnings Increase 26%
October 15, 2008
PHOENIX – MidFirst Bank announced today that earnings for the third quarter of 2008 were up 26 percent totaling $74.6 million, compared to $59.4 million in 2007. The quarter complements a nine-month trend that has resulted in an overall 30 percent earnings increase to date totaling $213.1 million in 2008, compared to $163.9 million in 2007.
MidFirst Bank Adds $6.5 Billion to Portfolio
October 7, 2008
OKLAHOMA CITY – MidFirst Bank, the third largest privately owned bank in the United States, has acquired a $6.5 billion mortgage servicing portfolio, comprised of over 65,000 government-backed mortgage loans. This purchase places MidFirst among the top five servicers of FHA and VA government-backed loans in the United States. As a result of this acquisition, MidFirst will be adding 70 new positions in a variety of different loan servicing functions, bringing the servicing group's total to nearly 500 employees.
MidFirst Earnings Increase 34% for the Second Quarter
July 16, 2008
PHOENIX – Earnings for the first six months of 2008 totaled $138.5 million, compared to $104.6 million for the same period last year. Earnings for the second quarter of 2008 were $70.3 million compared to $52.6 million in the same quarter of 2007, an increase of 34%. "MidFirst has been able to sustain its growth this year as the result of the diversity of its balance sheet and operating strategies. We continue to maintain the highest ratings by several independent bank rating firms," said Jeff Lowe, MidFirst Bank Arizona president.
MidFirst Bank Fourth Quarter Earnings up 15% Over Last Year
January 21, 2008
OKLAHOMA CITY – MidFirst Bank reported earnings of $60.4 million for the fourth quarter of 2007, up $8.1 million or 15% over the same period last year. MidFirst Bank's return on equity, a key banking performance measure, continues at industry leading levels. Based on most recently available data for 2007, MidFirst's return on equity ranks it in the top 7% of the approximately 7,000 banks in the United States.