Omaha, Nebraska-based Pinnacle Bancorp Inc. has signed an agreement to acquire Southern Bancshares Inc., the parent company of Moulton-based SouthStar Bank. SouthStar Bank has $1.35 billion in assets with 16 full-service locations in Central Texas: Austin, Bee Cave, Brazoria, Bremond, Calvert, Franklin, Georgetown, Gonzales, Harker Heights, Hearne, Kerrville, Leander, Moulton, Round Rock and Shiner. In addition, the bank operates a loan production office in Austin. The purchase is expected to close in January 2027.
“Under Pinnacle Bancorp Inc., SouthStar Bank will continue to operate with local management, local decision-making and local control, reflecting both organizations’ shared commitment to community banking,” says Matt Dinsdale, executive vice president of Pinnacle Bancorp. “Our heritage and values will continue to build on SouthStar Bank’s foundation for their employees, customers and communities.”
“I am honored for our team to be able to join another great family bank with a common culture, background and community bank philosophy,” says David Kapavik, CEO of SouthStar Bank. “SouthStar Bank makes a great fit for the Pinnacle Bank family strategically and geographically to serve customers in the Texas market.” Kapavik has confirmed that he will remain president and CEO of SouthStar through 2027.
Established in 1938, Pinnacle Bancorp Inc. is a family-owned $20.2 billion regional banking organization operating in eight states with 164 branches. It has 28 branches in Texas.
