The Federal Reserve Board has approved the application by BancFirst Corporation to acquire and merge with Spirit BankCorp, Inc., and thereby indirectly acquire its state nonmember bank subsidiary, SpiritBank. Following the merger, BancFirst, the state member bank subsidiary of BancFirst Corporation, will merge with SpiritBank, with BancFirst as the surviving entity. The acquisition is valued at approximately $15.9 billion in consolidated assets. BancFirst Corporation, with consolidated assets of approximately $15.1 billion, is the 124th largest insured depository organization in the United States, controlling approximately $12.9 billion in consolidated deposits, which represent less than 1 percent of the total amount of deposits of insured depository institutions in the United States. Spirit BankCorp, with consolidated assets of approximately $916.1 million, is the 1,050th largest insured depository organization in the United States, controlling approximately $847.2 million in consolidated deposits. The Board has considered the competitive effects of the proposal in the Tulsa, Oklahoma, banking market and has determined that consummation of the proposal would not have a significantly adverse effect on competition or on the concentration of resources in any relevant banking market. The Board also considered the financial and managerial resources and the future prospects of the institutions involved, as well as the records of effectiveness of the institutions in combatting money-laundering activities, and determined that these considerations are consistent with approval. The acquisition is expected to be consummated concurrently with the merger of Spirit BankCorp with and into BancFirst Corporation. The Board received four adverse comments on the proposal, which were considered in the evaluation process. The acquisition is subject to the terms and conditions set forth in the Board's order.