Market Overview

N.B.C. Bancshares in Pawhuska, Inc. Acquires Bank of Cushing


NBC, parent company of Blue Sky Bank, says the acquisition results
in more than $300 million in combined assets

Officials today at N.B.C. Bancshares in Pawhuska, Inc. (NBC), parent
company of Blue Sky Bank, and officials at Bank of Cushing jointly
announce the signing of an agreement pursuant to which NBC will purchase
100% of the stock of Bank of Cushing. Bank of Cushing will continue to
operate as a wholly-owned subsidiary of NBC. Upon completion of the
transaction, the combined banks will have greater than $300 million in

"At NBC, we are actively pursuing opportunities to continue our growth
trajectory, and the Bank of Cushing acquisition is a key step in our
long-term goal," said Gentner Drummond, majority owner of NBC.
"Individually, our banks have been serving Oklahomans for more than 115
years. Together, we strengthen our resources to serve the next
generation of Oklahomans."

Drummond announced that Bank of Cushing's President John Bryant and
Executive Vice President Brenda Magdeburg will continue to lead the Bank
of Cushing.

"This partnership preserves the excellent and consistent management of
the bank who will continue directly supporting the citizens and
businesses of Cushing," Drummond said. "The cultures of the Bank of
Cushing and Blue Sky Bank are very complimentary with a strong
commitment to providing exceptional advice and superior customer

The board of directors of both companies approved the transaction, which
is expected to close in the fourth quarter of 2018 and remains subject
to customary closing conditions and regulatory approval.

"We are fortunate to have found the perfect partner for our bank with a
commitment to serving the local market and increasing its presence in
Cushing," said Bryant. "This transaction will allow us to offer more
services and continue to enhance our customer experience."

Upon completion of the transaction, Bank of Cushing will join NBC's
banking operations doing business as Blue Sky Bank in Tulsa, Pawhuska
and Cleveland, Okla.

"Our mission at Blue Sky is to provide service that consistently exceeds
our customer's expectations at all levels, in all departments, at all
times," said Blue Sky CEO Evans Rector. "We pledge to continue this
level of service to the current and future customers of Bank of Cushing."

Sandler O'Neill + Partners, L.P. served as a financial advisor to NBC
and D.A. Davidson & Co. served as financial advisor to Bank of Cushing.
Terms of the transaction were not disclosed.

About Blue Sky Bank: Blue Sky Bank was originally chartered in
Osage County, Okla. in 1905 as the Bank of Commerce in Pawhuska. During
the last 113 years, it has grown and changed names several times, being
known as the National Bank of Commerce, NBC Bank and, most recently,
Citizens Bank of Oklahoma. While maintaining its roots in Pawhuska, the
bank grew first to mid-town Tulsa in 2004 and then expanded into
Cleveland, Okla. in 2014. Citizens Bank was renamed Blue Sky Bank on
November 1, 2016.

About Bank of Cushing: Bank of Cushing was established in 1897.
In 1907, the bank consolidated with another small, community bank to
become Farmer's State Bank. In 1913, the bank nationalized to become
Farmer's National Bank. By 1917, Stephen A. Bryant, Tom J. Hughes, and
R.C. Jones purchased the principal stock of the Farmer's National
Bank. The bank has remained a part of the Bryant family and, in 1978,
John A. Bryant became the current president and chairman of the bank. In
1980, the bank changed its name to Bank of Cushing and continues to
serve as the primary provider for citizens and businesses in the greater
Cushing region.

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