Pinnacle Bancorp has a reached an agreement to acquire Crockett National Bank of San Antonio, which operates five branches in Central and Southwest Texas and has $630 million in assets.
As a result of the merger, Crockett National Bank’s five branches and two loan production offices will become part of Pinnacle’s network of 22 branches in Texas, with most in Fort Worth and the surrounding area.
“The people, hospitality and charm of the great state of Texas make it a wonderful place to do business,” said Sid Dinsdale, chairman of Pinnacle Bancorp., a family-owned $17.7 billion holding company founded in 1938 that now operates 161 community banks in eight states.
“We appreciate this opportunity to welcome Crockett National Bank to the Pinnacle Bank family and expand our footprint in the state,” Dinsdale said.
Retaining Crockett National Bank’s staff was a key to component of the merger deal. All Crockett National Bank centers will continue to operate under Pinnacle Bank’s policy of local management.
“Pinnacle Bank’s commitment to community and customer service aligns closely with the foundations that our banking philosophy has always been based on,” said Todd Huckabee, CEO of Crockett National Bank, who will become regional vice president of Pinnacle Bank when the acquisition is complete later this year.
“We are happy to enter this partnership and continue service to our local area,” Huckabee said.