MidFirst Bank Reports 2011 Earnings of $257 Million

February 14, 2012

PHOENIX, AZ – MidFirst Bank, Arizona's largest privately held bank, reported full-year earnings of $257 million, a 47 percent increase over 2010 earnings of $175 million. "I am particularly encouraged by MidFirst's continued increase in market share for checking accounts and other core products. For those valuing innovation, integrity and superior customer service, we are increasingly the bank of choice," remarked Jeff Records, chairman and CEO for MidFirst Bank.

The bank added over 200 new jobs during 2011. "We are delighted to be adding new jobs at MidFirst. The best way we can support the nation's economic recovery is by creating new jobs," Records said.

The bank ended the year with an increase in consumer and commercial deposits of $370 million over the prior year. The bank's growth of consumer checking deposits, a key indicator of customer loyalty, exceeded 21 percent.

MidFirst's regulatory capital and reserves of $1.47 billion represent a $113 million increase over levels reported a year ago. The bank's core capital ratio of 13.56 percent would have ranked eighth among the 100 largest U.S. banks based on prior quarter results.

Headquartered in Oklahoma City, MidFirst has 22 banking centers across the Valley and serves more than 600,000 customers nationwide.