2009 Press Releases
MidFirst Bank Acquires Community Bank of Arizona and Union Bank
August 14, 2009
PHOENIX – Jeff Lowe, Arizona market president of MidFirst Bank, announced today that MidFirst, the largest privately held bank in Arizona, has agreed to acquire the assets and deposits of Community Bank of Arizona and Union Bank from the FDIC receivers. The Community Bank of Arizona and Union Bank were declared insolvent and the FDIC was assigned as receiver for each failed institution. The transaction adds 5 banking centers to MidFirst Bank's growing Valley network. By year end, MidFirst will have over 20 locations in Arizona including these sites.
MidFirst Second Quarter Income Tops $30 Million; Job Growth Continues
August 12, 2009
PHOENIX – MidFirst Bank, Arizona's largest privately owned bank and the third largest privately owned bank in the United States, reported second quarter net income of $30.6 million while assets grew by $218 million to end the quarter at $14.7 billion.
MidFirst Bank Earnings Remain Strong, Growth Continues
May 8, 2009
PHOENIX – Despite the worst economic downturn in the past 60 years, Arizona's largest privately held bank, MidFirst, continues to post solid results. Similar to its peers, MidFirst's earnings declined from the same quarter last year as it added to its loan loss reserves. However, based on the most recently available industry data, MidFirst's earnings performance ranks it in the top 5% of all banks in the United States. MidFirst's assets grew by 2% compared to the same period last year.
MidFirst Earnings Increase 24% for the Year; Assets Grow to $14.6 Billion
January 29, 2009
Earnings for the year ended 2008 totaled $277.9 million, compared to $224.3 million for the same period last year. Earnings for the fourth quarter of 2008 were $64.8 million compared to $60.4 million in the same quarter of 2007. 2008 results are unaudited.