BancCentral National Association
| Company type | Private |
|---|---|
| Industry | Banking, Financial services |
| Founded | 1899 |
| Headquarters | Alva , United States |
Key people | Kyle D. Hughbanks (President and CEO) |
| Products | Commercial banking services |
BancCentral National Association—previously known as Central National Bank—is a commercial financial institution headquartered in Alva, Oklahoma. The original bank edifice, erected in 1901, earned a place on the National Register of Historic Places in 1984. Since 1919, ownership and management have remained within the Myers family.
History
Founded in 1899 as the Alva National Bank, the institution was led by George A. Harbaugh as president by 1907. Between 1907 and 1913, Alva Security Bank took over Alva National Bank but maintained Harbaugh's leadership as president.
In August 1913, Harbaugh and associates established Central State Bank at the former site of Alva Security Bank. This entity was chartered as a "state bank" with deposit insurance provided by the Depositors Guaranty of Oklahoma. On October 31, 1917, Central State Bank merged with Woods County Union Bank, which was under the control of Harbaugh and George Meade.
W.D. Myers purchased a controlling interest in 1919 and served as president until his passing in 1951. Following this, Gertrude Myers assumed the roles of chairman and CEO, while her brother W.D. Myers Jr. acted as president until 1987. After Gertrude's death, William R. Buckles took over as president and CEO.
On March 13, 1998, BancCentral expanded by acquiring Woodward County branches from NationsBank, a transaction resulting from a sequence of mergers initiated when the Bank of Woodward was sold to Bank IV in Wichita, Kansas, in 1993. Kyle D. Hughbanks was appointed President and CEO at that time.
In 2009, the bank attracted criticism for demolishing a parking structure that housed hundreds of Mexican free-tailed bats.
The bank underwent a rebranding to BancCentral National Association (BancCentral, N.A.) in March 2012.
In March 2021, the Office of the Comptroller of the Currency (OCC) issued a Consent Order highlighting deficiencies related to management oversight, capital planning, risk assessment, loan review processes, and credit administration. The bank’s board consented to this order on December 9, 2021, committing to implement the required operational improvements mandated by the OCC.