Harlingen-based Texas State Bankshares, Inc. and Denton-based Access Bancorp, Inc. announced they have completed the merger of Access Bancorp, Inc. with Texas State Bankshares, Inc. and AccessBank Texas with Texas Regional Bank. As a result of the transaction, Texas Regional Bank will add AccessBank Texas' five locations and approximately $570 million in assets within the Denton, Fort Worth and Dallas markets to its existing network of 23 banking centers in South Texas, the Texas Hill Country and Houston.
"Texas Regional Bank continues to seek out opportunities in growing Texas markets. AccessBank Texas brings us our fourth region, allowing us to expand our foundation of financial services to some of the top markets in the state," said Michael Scaief, Chairman and CEO of Texas Regional Bank. "We have experienced great success by diversifying our footprint across Texas. 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," said Bobby Farris, Vice Chairman of Texas Regional Bank.
"The leadership, culture, and vision of Texas Regional Bank will be a great fit for our stockholders, staff, and the community that we serve," said Cleve Breedlove, President and CEO of AccessBank Texas. "This merger is all about enhancing our communities by strengthening existing product and service offerings and adding new options, such as Trust and Wealth Management," said Brett Bingham, also a member of the AccessBank Board of Directors.
Michael Scaief will continue as Chairman and President of Texas State Bankshares, Inc. and Chairman and CEO of Texas Regional Bank. Cleve Breedlove will serve as Region President over the Dallas/Fort Worth region. Both Cleve Breedlove and Brett Bingham will join the Texas Regional Bank's Board of Directors.
Texas Regional Bank is a diversified financial services company with assets in excess of $2.6 billion offering financial services in banking, wealth, trust, international and mortgage.
Texas Regional Bank is a wholly owned subsidiary of Texas State Bankshares, Inc. Ownership of the organization spreads across more than 1,000 shareholders, the majority of whom are from Texas. Texas Regional Bank is proud of its broad and influential shareholder base that has been key to its success since 2010.