TexasBank is excited to announce that it has entered into a definitive merger agreement with its sister bank organization Texas Bank Financial located in the DFW metroplex.
Upon completion of the merger transaction TexasBank will have total assets of over $1.3 billion with 15 branches and loan production offices throughout West Texas, Central Texas and the Metroplex. With common ownership and shared values, both organizations have proven success based on their relationship driven approach, unwavering commitment to the communities in which they serve, and a strong focus on corporate responsibility.
“We will still be TexasBank with the same staff, products and services that our customers have come to know, expect and trust”, said Greg Dodds, President and CEO of TexasBank. “As a larger financial institution with a more diverse geographic footprint, our combined organization will be able to provide even more convenience for our customers and further expand our current product offerings while still providing the service that only a true community bank can provide. This merger simply enables us to become bigger, better and stronger”, said Dodds.
Mark Riebe, Chairman, CEO and President of Texas Bank Financial added, “Both TexasBank and Texas Bank Financial have achieved extraordinary growth and success over the past decade in each of their respective markets. However, each bank has achieved this success through completely different business models. Our boards and ownership believe the leadership and business models of both banks are the perfect complement to each other and we are confident the synergies, additional market coverage, and financial strength this partnership creates will drive long term value for our customers and communities that we serve as well as for our shareholders.”
The proposed transaction is subject to bank regulatory approvals and the approval of the shareholders of TexasBank. Subject to these approvals, the banks plan to close the transaction in early 2022.
Once merged, the combined entity will be known as TexasBank and will have locations in Brownwood, Stephenville, Comanche, Bangs, Eastland, Dublin, El Paso, Weatherford, Fort Worth, Dallas, Austin, and Springtown.