What started as a piece of paper on the door now is represented by a sign showing BancCentral is open in the old Bank of America site at 300 W. Randolph.
Kyle Hughbank, president of BancCentral in Alva, said the facility is a loan production office now, but there are plans to expand to a full-service branch of the Alva bank. BancCentral, formerly Central National Bank of Alva, has one branch location in Woodward, which it purchased in 1998.
“In the long term, we anticipate it becoming a full-service banking branch, but I don’t know the timeline yet,” Hughbank said.
The loan office opened in April, and matters were handled by appointment only. Hughbank said bank officials slowly are moving toward a more visible presence. He said the Woodward branch was BancCentral’s first venture outside of Alva, and officials have been pleased with the success of that marketplace. He thinks Enid also is a good market.
“Enid is a great place to do business, anywhere in northwest Oklahoma now,” Hughbank said. “We feel really good about the market we’re part of, and we hope to be part of for a long time. Potentially, we hope to be serving people in other areas over time.”
BancCentral has a strong capital structure, which gives it the financial ability to look at many options, he said. As of June 30, BancCentral assets were $303 million.
There are three full-time staff members in Enid, periodically assisted by part-time staff who come in from other locations.
Hughbank said the bank is open during normal banking hours.
BancCentral is in its 99th year of operation as a family-owned local bank. Its name was changed in March.
“That name served us well for the first 100 years, and we wanted to preserve the core, reflect who we are becoming; have a larger presence, not just geographically in Alva, Okla.,” he said. “We’re a family-owned bank that has roots in Oklahoma, and we will remain that way.”