Firstar Bank to acquire Stigler Bank

Representatives of Firstar Bank and First National Bank of Stigler have reached an agreement to partner the two financial institutions. The transaction is subject to receipt of regulatory approval.

With $935 million in assets, Firstar Bank operates 10 locations in Eastern Oklahoma and Northwest Arkansas. Founded in 1904, First National Bank of Stigler currently holds over $140 million in assets and is the largest financial institution in Haskell County.

Under the proposed transaction, the two financial institutions will continue to operate as independent banks for the next nine months. First National Bank of Stigler will operate under its present name until Aug. 19, 2024, when it will be integrated into Firstar Bank’s network of 10 other locations.

Mike Butler, President of First National Bank of Stigler, said customers will notice few, if any, changes after the transition.

“First National Bank of Stigler remains dedicated to building longterm relationships with our clients-just as it has for the past 119 years,” Butler said.

Butler will continue to lead the Stigler operation and confirmed that customers will be notified of any changes well in advance. Staff members of the two institutions will work together over the next year to ensure a smooth transition.

Butler noted that the two organizations share common leadership. Firstar Bank is led by long-time community banker Mike Leonard. In addition to his role with Firstar, Leonard has served on the Board of Directors of First National Bank of Stigler for 47 years.

Butler commented, “Mike Leonard is a long-time friend and trusted colleague. As many of our customers know, Mike’s commitment to Haskell County runs deep.”

Leonard remarked that the two organizations share a steadfast commitment to community-focused banking.

“First National Bank of Stigler has an outstanding track record. We are committed to providing customers with the same exceptional level of personal service they’ve come to expect from the local people they know and trust,” he said.

Both Leonard and Butler expressed a desire to keep the bank’s dedicated staff intact as well as the branch location in Stigler, ensuring a continued commitment to Haskell County. They also noted multiple benefits of the proposed merger for bank clients. Once completed, customers will have access to a network of 10 other bank locations including Fort Smith, Sallisaw, and Muskogee.

Firstar also offers expanded banking hours, more customer service personnel, free retirement planning services, business banking specialists, a dedicated mortgage department, and a Free ATMs Everywhere program.