MidFirst Bank to Acquire Dallas Capital Bank to Expand Texas Presence

Oklahoma City-based MidFirst Bank has reached an agreement to acquire Dallas Capital Bank, a move that significantly bolsters its footprint in the competitive Texas middle-market sector. The deal, expected to close in the second half of 2024, will integrate Dallas Capital’s $1.2 billion in assets into MidFirst’s $42 billion platform. This acquisition underscores a broader trend of consolidation in the Southwest as regional lenders seek to capture growth in the Dallas-Fort Worth metroplex, currently the second-largest financial services hub in the United States.

MidFirst Bank, the nation’s largest privately owned bank, announced on Wednesday its plan to purchase Dallas Capital Bank for an undisclosed amount. This transaction follows MidFirst’s recent acquisition of six Houston-area branches from Amerant Bank earlier in 2024, signaling an aggressive multi-pronged expansion strategy within Texas. Upon completion, the deal will merge Dallas Capital’s $1.2 billion asset base into MidFirst’s $42 billion portfolio, providing the Oklahoma lender with deeper access to the Dallas market where it has maintained a presence for nearly a decade.

Dallas Capital Bank specifically targets entrepreneurs and middle-market business owners, a segment that MidFirst leadership intends to prioritize following the merger. Dallas Capital CEO Doug Hutt noted that joining MidFirst will provide his clients with expanded resources and capabilities while maintaining a relationship-focused culture. MidFirst CEO Todd Dobson emphasized that the acquisition is a strategic fit, as Dallas Capital is recognized for its personalized service in one of the most dynamic banking markets in the country.

The deal comes amid a surge of banking M&A activity across the Oklahoma and Texas regions. Recent transactions include BancFirst’s agreement to acquire SpiritBank to strengthen its Tulsa presence and Scotiabank’s purchase of MapleMark Bank, which operates in both Dallas and Tulsa. These moves are driven by the rapid economic growth of the Dallas-Fort Worth area, which added approximately 1 million residents between 2017 and 2025 and has become a primary hub for financial services workforce talent outside of New York City.

The transaction is currently subject to customary closing conditions and must receive regulatory approval before it can finalize in the latter half of the year. For the commercial banking sector, this consolidation highlights the increasing competition for middle-market clients and the necessity for regional banks to scale up to compete in high-growth urban corridors. MidFirst Chairman G. Jeffrey Records Jr. stated that the acquisition is a critical step in deepening the bank’s long-term commitment to the state of Texas.