After decades in Woodward, Stock Exchange Bank plans merger with Cowboy Bank

A public notice published in the Woodward News states that Cowboy Bank of Kremlin has applied to the Federal Reserve Board for permission to merge with Stock Exchange Bank of Woodward and continue operating its locations as branches of Cowboy Bank.

According to notices published June 17, and to be ran June 24 and July 1, Cowboy Bank plans to establish a branch at Stock Exchange Bank's main office, 1117 10th St. in Woodward, while maintaining all existing branch locations of both institutions under the Cowboy Bank name.

Stock Exchange Bank Chairman and Chief Executive Officer Bruce Benbrook said the proposed merger is intended to strengthen community banking across northwest Oklahoma while preserving the local presence customers have come to expect.

"We're extremely pleased with the impending merger because Cowboy Bank shares our values, and they know what people in northwest Oklahoma are like," Benbrook said. "They are committed to serving the Woodward community just like we have in the past, and that's what we're excited about."

Benbrook said customers should continue seeing the same employees and local leadership after the merger.

"No one is going anywhere," he said. "Bill Fanning will remain in Woodward as market president. The staff is the same and the people are the same, and it's going to be a great opportunity to help us serve our customers better throughout Woodward and northwest Oklahoma."

Stock Exchange Bank President Bill Fanning said the bank hopes to preserve its longtime identity in Woodward, pending regulatory approval.

"They're going to try to keep the Stock Exchange Bank name as much as they can. It might be Stock Exchange Bank, a division of Cowboy Bank, or something similar, but that has to be cleared with the FDIC," Fanning said. "We'll still have the same presence in the community. We do some things better than them, and some things they do better than us, so I think it will be a good combination. It's a good family-owned bank."

Benbrook said the merger would provide long-term benefits for communities throughout the region.

"This prospective merger will benefit Woodward and northwest Oklahoma for many years to come," he said.

The merger announcement was made jointly by Benbrook and Cowboy Bank Chairman Mark Winter. According to a recent press release, the transaction is expected to close during the summer of 2026, subject to regulatory approvals and customary closing conditions.

"Both of our banking organizations are dedicated to serving our customers and helping our communities prosper through hometown values and local decision-making," Winter said. "We firmly believe this combination will allow us to offer superior banking products and services for future generations of customers and communities."

The Federal Reserve will consider several factors in reviewing the application, including each bank's record of helping meet local credit needs. Members of the public may submit written comments to the Federal Reserve Bank of Kansas City as part of the review process.

If approved, the merger would combine two community banking institutions with deep roots in northwest Oklahoma while retaining banking services in Woodward and other existing branch communities.

© 2026 The Woodward News (Woodward, Okla.). Visit woodwardnews.net. Distributed by Tribune Content Agency, LLC.