First Enterprise Bank (Oklahoma City, OK)

Background

Established in 1907 as the North Oklahoma State Bank, First Enterprise Bank has a longstanding history in Oklahoma City. The bank's mission is to serve the community by providing exceptional customer service, emphasizing quick, local decision-making, and fostering strong relationships with clients. Over the years, it has evolved from a single-branch institution to a community-focused bank with multiple locations, maintaining its commitment to personalized banking services.

Key Strategic Focus

First Enterprise Bank specializes in offering a range of financial products tailored to both individual and business clients. Their services include personal and business checking accounts, loans, and specialized accounts such as Cannabis-related Business (CRB) Checking Accounts for qualifying applicants. The bank leverages local market knowledge to provide customized financial solutions, targeting the Oklahoma City community and surrounding areas.

Financials and Funding

As of the fourth quarter of 2024, First Enterprise Bank reported total assets of approximately $196.8 million, with total deposits amounting to $173 million. The bank achieved a net income of $3 million during this period, reflecting a return on assets (ROA) of 1.46% and a return on equity (ROE) of 12.95%.

Technological Platform and Innovation

First Enterprise Bank emphasizes the importance of protecting customers' financial information, highlighting their commitment to security. While specific proprietary technologies or AI-driven capabilities are not detailed, the bank's focus on security suggests an investment in technological measures to safeguard client data.

Leadership Team

The bank's leadership includes:

Bill Richardson: Chairman of the Board.

D.W. Garrett: President.

Pat Shuman: Company Contact.

These individuals play pivotal roles in steering the bank's strategic direction and ensuring its commitment to community-focused banking.

Competitor Profile

Market Insights and Dynamics

The banking industry in Oklahoma City is competitive, with several institutions vying for market share. The market is characterized by a mix of large national banks and smaller community banks, each offering a range of financial products and services.

Competitor Analysis

Key competitors include:

MidFirst Bank: Headquartered in Oklahoma City, MidFirst Bank is the largest privately owned bank in the United States, with assets totaling $39.5 billion as of Q1 2025. It operates in multiple states, offering a comprehensive suite of banking services.

First Fidelity Bank: Also based in Oklahoma City, First Fidelity Bank operates in Oklahoma, Arizona, and Colorado, with assets exceeding $2 billion as of 2020. It offers a range of retail banking and financial services.

BancFirst: Operating in 60 Oklahoma communities with over 100 service locations, BancFirst reported assets of $14 billion and deposits of $12.1 billion as of March 31, 2025. It offers a wide array of banking services across the state.

Strategic Collaborations and Partnerships

Specific strategic collaborations or partnerships involving First Enterprise Bank are not detailed in the available information. The bank's focus remains on serving the local community through personalized banking services.

Operational Insights

First Enterprise Bank's competitive advantage lies in its deep-rooted presence in the Oklahoma City community and its commitment to personalized customer service. By focusing on relationship banking and local decision-making, the bank differentiates itself from larger, more impersonal institutions.

Strategic Opportunities and Future Directions

Opportunities for First Enterprise Bank include expanding its digital banking capabilities to meet the evolving needs of customers and exploring new financial products tailored to niche markets within the community. Leveraging its strong community ties, the bank can continue to grow its customer base by emphasizing personalized service and local decision-making.