MidFirst Bank Agrees to Acquire Presidential Financial Corporation
March 5, 2013
OKLAHOMA CITY – MidFirst Bank announced it has acquired Atlanta-based Presidential Financial Corporation, an asset-based senior secured lender that provides growth capital to businesses and healthcare providers nationwide.
The acquisition was completed March 1 and aligns Oklahoma City-based MidFirst Bank, one of the nation's largest privately held banks, with an experienced management team and 30-year record of providing specialized financing solutions to its clients.
Following the transaction, Jeff Records, chairman and chief executive officer of MidFirst Bank, said, "Our companies' lines of business are highly complementary, creating immediate opportunities and value for MidFirst Bank. Additionally, the combination provides Presidential Financial access to a substantially larger capital base and diversified product offerings for its clients."
Presidential Financial will operate as a subsidiary of MidFirst Bank and maintain its own brand and management team. It will retain its name, current personnel and keep its headquarters and operations in Atlanta. According to Tom Matthesen, president of Presidential Financial, as a result of the transaction, "Presidential Financial becomes one of the strongest and most versatile lenders in the markets it serves."
Presidential Financial is a well-established lender that provides borrowers with growth capital in
manufacturing, distribution, professional services and healthcare industries.
About MidFirst Bank
Headquartered in Oklahoma City, MidFirst Bank is one of the nation's largest privately held banks and serves approximately 700,000 customers nationwide.
About Presidential Financial Corporation
Presidential Financial Corporation is a senior lender providing growth capital to businesses and healthcare providers throughout the United States. The company focuses on growing businesses with strong management teams and typically offers working capital facilities from $1 million to $5 million. Headquartered in Atlanta and founded in 1981, the company serves clients nationwide.