TEXAS BANKING NEWS, PEOPLE AND IDEAS
TEXAS BANKING NEWS, PEOPLE AND IDEAS
O n August 25, the Federal Deposit Insurance Corp. (FDIC) reported that commercial banks and savings institutions saw a decrease in net income of 70 percent from a year ago, while liquidity and capital levels remained very strong to meet loan demand and absorb any losses in the future. For the 5,066 commercial banks and … Read more
On August 25, Texas Heritage Bancshares Inc., the parent company of Hondo National Bank, and Medina Community Bancshares Inc., the parent company of Hondo-based Community National Bank, jointly announced the signing of a definitive agreement to combine the two holding companies into Texas Heritage Bancshares. The merger agreement was unanimously approved by the board of … Read more
Tyler-based Southside Bank is opening a new Austin branch on August 31 at The Domain. The new space, located at 11815 Alterra Pkwy., Ste. 100, is a relocation of the bank’s Austin branch on N. Mopac Expwy., which will close on August 28. In addition to The Domain location, Southside Bank will continue to serve … Read more
On July 20, Conroe-based Spirit of Texas Bancshares Inc., the holding company for Spirit of Texas Bank, announced that the bank has entered into a branch purchase-and-assumption agreement to sell its Clear Lake location to Galveston-based Moody National Bank. “Moody will obtain a book of business that they can successfully build on in the Moody … Read more
Each year, Bank Director releases the results of its Bank Compensation Survey, examining talent and pay trends. This year is no different; however, the results of the survey, conducted during the current pandemic, shed new light on the need for banks to hire and maintain quality talent that fits with the bank’s culture and supports … Read more
Main Street Inc., a leading provider of data-driven print services to community financial institutions across the nation, announced on August 4 that it has acquired Onovative, an automated marketing technology software provider based in Louisville, Kentucky. The purchase of Onovative further enhances Main Street’s marketing services solutions. Onovative’s automated marketing platform enables banks and credit … Read more
On July 28, Farmers Branch-based TYME Bank withdrew its de novo application with the Federal Deposit Insurance Corp. due to economic uncertainty as COVID-19 cases started rising in the state, but the bank’s CEO says the company may resubmit its application as the economy improves, according to S&P Global Market Intelligence. “Things started getting better, … Read more
This year marks the 120th anniversary of the founding of First National Bank of Gilmer and its commitment to the banking needs of East Texas communities. In honor of this milestone, on August 1 Danny Weems, president and CEO, announced that its system of banks—First National Bank of Gilmer, Wood County National Bank, Texas American … Read more
Jacksonville-based Austin Bank was recently named one of the “2020 Best Companies to Work for in Texas” by the Texas Association of Business during its virtual awards presentation on June 18. This is the 12th consecutive year for Austin Bank to receive this honor. The awards program was created in 2006 and is a project … Read more
Executives from Laredo-based IBC Bank joined the Texas Border Coalition and the Borderplex Alliance for a virtual U.S.-Mexico Border Summit on June 17. This annual event, which typically takes place in-person—brings together business, government and civic leaders to discuss the importance of the border region in increasing the global competitiveness of both the United States … Read more