TRB To Acquire Blanco National Bank
Harlingen-based Texas State Bankshares, Inc. and Blanco-based Blanco National Holdings, Inc. announced today that they have entered into a definitive agreement to merge Blanco National Bank with Texas Regional Bank, pending regulatory approval. As a result of the transaction, Texas Regional Bank will add Blanco’s four Hill Country banking centers (Blanco, Fredericksburg, Wimberley and Spring Branch) to its existing network of branches in the Rio Grande Valley and Falfurrias, Texas.
“Texas Regional Bank has been searching for the right opportunity in the Hill Country and found it with Blanco National Bank,” said Michael Scaief, Chairman of Texas Regional Bank. “Blanco National Bank will provide the foundation for Texas Regional Bank to extend its core banking, wealth management and mortgage divisions throughout the Hill Country.
Shareholders of Blanco National Bank also expressed support for the merger. “We looked at a number of banks and found Texas Regional Bank to be the best fit for us and the communities we serve,” said board member David Behrends. “Like us, Texas Regional Bank is focused on community banking and building successful customer relationships,” continued Kirk Felps, also a member of the board. “This merger is all about enhancing our communities by strengthening existing products and services and adding new options, such as Wealth Management and Mortgage,” remarked Mark Tidwell, President and CEO of Blanco National Bank.
Michael Scaief will continue as Chairman and President of Texas State Bankshares, Inc. and Chairman of Texas Regional Bank. Mark Tidwell will be Market President over Hill Country operations. Paul Moxley will continue to serve as President and Chief Executive Officer of Texas Regional Bank. “The merger creates a team of seasoned community bankers from both regions who are accustomed to building customer relationships and being the “bank of choice,” Moxley explained.
Texas Regional Bank began operations in May of 2010 with the acquisition of Falfurrias State Bank which had one banking center and $18 million in assets. Today, Texas Regional Bank has nine banking centers in the Rio Grande Valley from Brownsville to McAllen and one in Falfurrias, with assets in excess of $600 million. With this anticipated merger, the company will have assets in excess of $800 million and capital of more than $80 million.
Texas Regional Bank is a wholly-owned subsidiary of Texas State Bankshares, Inc. Ownership of the organization spreads across more than 500 shareholders in south and central Texas. Texas Regional Bank is proud to have a broad shareholder base and ownership structure, where no one family may own more than 10% of the bank.
The transaction is subject to receipt of all necessary regulatory and shareholder approvals. Completion is expected in the first quarter of 2017. For more information please visit our website at www.texasregionalbank.com.
What should I know about Texas Regional Bank? Texas Regional Bank (TRB) began operations in May 2010 with the acquisition of Falfurrias State Bank, a one-branch, $18 million bank. Today, Texas Regional Bank, with assets in excess $600 million, has locations in the Rio Grande Valley cities of Brownsville, Edinburg, Harlingen, McAllen, Mission, Weslaco and north of the Rio Grande Valley in Falfurrias.
What should I know about Blanco National Bank? Blanco National Bank (BNB) was established in 1906. It originally was located in the County Courthouse building on the square in downtown Blanco, Texas. Today, Blanco National Bank, with assets in excess of $180 million, has four Hill Country locations in Blanco, Spring Branch/Bulverde, Fredericksburg, and Wimberley.
How will the bank acquisition impact me as a customer? This transaction will transpire in two steps. First, Texas Regional Bank will acquire Blanco National Bank. Second, in April, the banks will combine their computer systems. Once this occurs the blended bank will provide you with access to new technology and services, such as wealth management and a mortgage division. Customers will enjoy access to free ATM transactions at over 675 Stripes Stores across Texas, enhanced online and mobile access, additional products, services and convenience at all TRB locations both in the hill country and south Texas.
When will Blanco National Bank branches change to Texas Regional Bank? Closing of the transaction and name changes will take place at the time of merger which is expected to be in February of 2017.
Will the business hours at my branch change? We do not expect any significant change in the business hours of the bank, if there should be any changes to the branch hours, we will notify you well before the change occurs.
Will the phone number of my branch remain the same? Yes, branch phone numbers will remain the same.
Will you keep me informed about the progress of the merger? Absolutely, we plan to send regular updates via mail and email to keep you informed of progress on the merger. You also may look for updated information on the bank websites, www.texasregionalbank.com and www.blancobank.com.
Will I be able to maintain my present checking account? Yes, you can continue to use the same account number, checkbook and debit cards. However, there may be isolated instances where duplicate numbers exist. Should this arise, we will work directly with you to make the necessary changes seamless and without any cost to you.
Will my online banking, bill pay and telebanking services continue to work as usual? Your online banking, bill pay and telebanking service will remain unchanged until merger of the two computer systems which is expected in April 2017. Please continue to visit the BNB website to access your online banking. As we get closer to the merger of the computer systems you will begin receiving information on the enhancements. Once the changes are made, your online banking and bill pay will transfer to the enhanced system and you will receive a new telebanking number to call. Most importantly, your local banker will be able to answer any questions you might have.
What will happen to the Blanco National Bank website? BNB’s website will continue to be available until our systems have been combined. When the two systems have been integrated, you will automatically be re-routed to www.texasregionalbank.com to conduct all your online banking transactions.