On December 31, Harlingen-based Texas State Bankshares Inc. and Denton-based Access Bancorp Inc. announced that they have entered into a definitive agreement to merge 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’ six banking centers and approximately $560 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. Completion of the transaction is expected in the first quarter of 2022.
“Texas Regional Bank continues to seek out opportunities in growing Texas markets,” says Michael Scaief, chairman and CEO of Texas Regional Bank. “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.”
“We have experienced great success by diversifying our footprint across Texas,” notes Bobby Farris, vice chairman of Texas Regional Bank. “Our move into the DFW area is part of our strategic plan and will give us the opportunity to expand on what AccessBank Texas has already done in the community.”
“The leadership, culture and vision of Texas Regional Bank will be a great fit for our stockholders, staff and the community that we serve,” says 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,” says Brett Bingham, also a member of the Access Bancorp board.
Scaief will continue as chairman and president of Texas State Bankshares Inc. and chairman and CEO of Texas Regional Bank. Breedlove will serve as region president over North Texas operations and will also oversee the region’s expansion. Both Breedlove and Bingham will join the Texas Regional Bank’s board of directors.