Kemp-based Harmony Bank NA and Dallas-based Texas Brand Bank have officially closed on their merger, conducting business as Harmony Bank and now operating as a Texas state-chartered bank. The merger agreement was announced last September by John J. Carona, former Texas state senator and chairman of Harmony Bank, and Edward B. Tomlinson II, chairman of Texas Brand Bank.
This merger combines the Harmony Bank’s existing six branches with Texas Brand Bank’s five branches in Dallas, Ellis, Henderson, Kaufman and Navarro counties, totaling 11 banking centers altogether. The new Harmony Bank has more than $700 million in assets.
“Harmony Bank can now provide a greater lending ability, more banking products and additional digital banking solutions,” says William E. Lowe, president and CEO of Texas Brand Bank, who is continuing in the same role for Harmony Bank.
Harmony Bank was advised in the transaction by Chet Fenimore and Pam O’Quinn of Fenimore Kay Harrison. Texas Brand Bank was advised by Robert Flowers of Bradley Arant Boult Cummings LLP and Tex Gross of Commerce Street Capital.
Established in 1901 by a group of farmers, ranchers and businesspeople, Harmony Bank expanded its reach last year by purchasing First State Bank of Rice.