There's nothing middling about Midland Financial, the holding company for MidFirst Bank and other financial services subsidiaries. One of the largest privately held banks in the US, MidFirst Bank has more than 50 branches in Oklahoma and Arizona. Serving business and retail customers, the bank offers standard services such as checking and savings accounts, loans and mortgages, CDs, IRAs, credit cards, trust services, and private banking. It maintains commercial real estate lending offices in Chicago, Houston, New York, and Southern California. Affiliate Midland Mortgage acquires and services mortgages throughout the US.
MidFirst Bank focuses on real estate lending -- residential mortgages account for more than half of the bank's loan portfolio. Construction, commercial real estate, and multifamily residential real estate loans make up nearly another 40%. The closely held company's conservative underwriting standards helped it to maintain profitability throughout the economic downturn.
Midland Financial first ventured outside its home state in 2005 when it launched retail and commercial banking operations in the Phoenix area. In 2009 it acquired the assets and deposits of The Community Bank of Arizona and Union Bank in FDIC-assisted transactions. The additions brought MidFirst Bank's number of branches in Arizona to around 20. The company is targeting the area for continued expansion. It is opening new branches in Oklahoma, as well.
Midland Financial traces its roots to 1950 when Midland Mortgage was founded. MidFirst Bank was established in 1982. – less