Texas Regional Bank has moved into the Dallas-Fort Worth market as a result of a merger between Harlingen-based Texas State Bankshares Inc. and Denton-based Access Bancorp. Inc.
As a result of the transaction, five Dallas-Fort Worth AccessBank Texas centers will become Texas Regional Bank locations, including one at 15960 Championship Parkway in north Fort Worth. A loan-processing center in Fort Worth was also part of the merger.
Other new Texas Regional Bank centers are in Dallas and Denton County.
The merger brings about $570 million in assets from the five local AccessBank locations into the Texas Regional Bank’s network of 23 banking centers throughout South Texas, the Texas Hill Country and Houston.
“Texas Regional Bank continues to seek out opportunities in growing Texas markets,” Michael Scaief, chairman and CEO of Texas Regional Bank, said in a statement.
“Our move into the DFW area is part of our strategic plan and will allow us the opportunity to enhance what AccessBank Texas has already done in the community,” stated Bobby Farris, vice chairman of Texas Regional Bank.
Cleve Breedlove, president and CEO of AccessBank Texas, stated that the “leadership, culture and vision of Texas Regional Bank will be a great fit for our stockholders, staff, and the community.”
The merger will result in new financial services for customers, such as trust and wealth management.
Scaief will continue as chairman and president of Texas State Banckshares Inc. and Breedlove will serve as regional president of the Dallas-Fort Worth area.
Breedlove and Brett Bingham will join Texas Regional Bank’s Board of Directors.
Texas Regional Bank has assets of more than 2.6 billion and offers a range of financial services, including banking, mortgage and wealth and trust management.