First Oklahoma Bank: SBA business acquisition lending record
First Oklahoma Bank (home state OK) approved 33 SBA 7(a) loans to buy existing businesses since FY2018, totaling $42.8M. The median loan was $950,000. It ranks number 233 of 280 lenders by count and made 0.1% of all SBA acquisition loans nationally.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $497,000 and $1,634,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Oklahoma is the largest state (94% of loans). Loans appear in only 2 states, which points to a regional lender.
- Industry concentration. General Automotive Repair is 18% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 103 SBA 7(a) loans of any purpose since FY2020, totaling $124M. 0% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 12% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: none charged off, against the 3.5% national average.
First Oklahoma Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $257K | $257,000 | |
| FY2019 | 8 | $8.7M | $624,000 | |
| FY2020 | 4 | $6.1M | $1,445,000 | |
| FY2021 | 7 | $10M | $1,000,000 | |
| FY2022 | 2 | $1.6M | $797,500 | |
| FY2023 | 1 | $1.4M | $1,447,800 | |
| FY2024 | 1 | $497K | $497,000 | |
| FY2025 | 1 | $175K | $175,000 | |
| FY2026 | 8 | $14M | $1,325,950 |
How often do these acquisition loans fail?
Of the 20 First Oklahoma Bank acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 6 have already been paid in full.
For comparison, First Oklahoma Bank has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the same cohort. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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States served
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | General Automotive Repair | 6 | 18.2% | $4.4M | |
| 2 | Electrical Contractors and Other Wiring Installation Contractors | 2 | 6.1% | $4.8M | |
| 3 | General Freight Trucking, Local | 2 | 6.1% | $4.6M | |
| 4 | Support Activities for Oil and Gas Operations | 2 | 6.1% | $2.6M | |
| 5 | Limited-Service Restaurants | 2 | 6.1% | $340K | |
| 6 | Sheet Metal Work Manufacturing | 1 | 3.0% | $3.6M | |
| 7 | Offices of Other Holding Companies | 1 | 3.0% | $2.4M | |
| 8 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 1 | 3.0% | $1.9M | |
| 9 | Fabricated Structural Metal Manufacturing | 1 | 3.0% | $1.8M |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Meineke Car Care Center | 2 | 6.1% | $2M | |
| 2 | Subway | 2 | 6.1% | $340K |
Questions buyers ask
Does First Oklahoma Bank make SBA acquisition loans?
Yes. First Oklahoma Bank approved 33 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 233 of 280 lenders with 25 or more such loans. The SBA file shows past approvals only; it cannot tell you whether the lender will approve a particular buyer or deal.
How large are First Oklahoma Bank's acquisition loans?
The median was $950,000, with the middle half between $497,000 and $1,634,000. The national median is $645,250, so this lender's typical loan is 47% higher than the national figure.
Which states does First Oklahoma Bank lend in?
Oklahoma (31), Texas (2). Its loans appear in 2 states, so it is closer to a regional lender.
Which industries does First Oklahoma Bank finance?
General Automotive Repair (6), Electrical Contractors and Other Wiring Installation Contractors (2), General Freight Trucking, Local (2), Support Activities for Oil and Gas Operations (2), Limited-Service Restaurants (2). The top industry is 18% of its acquisition loans.
How have First Oklahoma Bank's acquisition loans performed?
Of 20 loans approved FY2018 to FY2021: none charged off, against the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
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Related
- Oklahoma acquisitions
- Texas acquisitions
- General Automotive Repair
- Electrical Contractors and Other Wiring Installation Contractors
- General Freight Trucking, Local
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by First Oklahoma Bank.