MidFirst Bank Reports First Quarter Earnings of $57 Million

May 2, 2012

PHOENIX, AZ – MidFirst Bank, Arizona's largest privately held bank, reported $57 million in first quarter earnings, a six percent increase over the same period in 2011. Over the past 12 months, MidFirst has added 250 new jobs and experienced a 28 percent increase in consumer checking balances.

MidFirst recently entered an 11-year comprehensive strategic alliance with Arizona State University. The new agreement integrates a MasterCard® debit card with student, faculty and staff IDs; initiates a sports-marketing package with ASU athletics; offers alumni and fans ASU branded MasterCard debit cards, credit cards and gift cards; and provides financial-literacy resources to the ASU community.

MidFirst's regulatory capital and reserves of $1.46 billion represent a $91 million increase over levels reported a year ago. The bank's 13.5 percent core capital ratio places MidFirst eighth among the 100 largest U.S. banks. Over the past 10 years, MidFirst's return on equity ranks in the top one percent of all financial institutions in the nation. MidFirst has 23 banking centers across the Valley and serves more than 600,000 customers nationwide.