Bok Financial buying GTrust for undisclosed sum

Bok Financial buying GTrust Financial for undisclosed sum; will help expand Kansas presence

Associated Press

TULSA, Okla. (AP) -- Regional banking operator Bok Financial Corp. is buying GTrust Financial Corp. for an undisclosed amount.

Bok said Wednesday that the deal will boost its assets under management or custody by $600 million and expand its presence and capabilities in the Kansas market.

Privately held GTrust, based in Topeka, Kan., is an independent trust and asset management company. It services include tax planning, fee-only financial planning, debt management and estate planning.

The buyout is targeted to close before the fourth quarter's end.

Shares of Bok Financial, based in Tulsa, Okla., fell 74 cents to $63.12 in morning trading.

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