On April 14, Wrey Montgomery, CEO and president of City National BancShares Inc., the holding company for The City National Bank of Colorado City, and Michael R. Davis, CEO of Big Country Bancshares Inc., the holding company for Citizens Bank NA, announced that a definitive agreement has been executed in which City National BancShares Inc. will acquire 100 percent of the issued and outstanding shares of common stock of Big Country Bancshares Inc.
The transaction is expected to close in the third quarter of 2025. Upon completion, the combined assets of the banks are projected to total approximately $430 million.
Established in 1900, City National Bank recently celebrated its 125th anniversary and currently operates locations in Colorado City and San Angelo. Citizens Bank, established in 1920, serves customers in Abilene and Knox City.
“This strategic partnership strengthens our commitment to community banking, enhances customer and shareholder value, and ensures continued local service with the same trusted Citizens Bank staff our customers know and rely on,” Montgomery says.
Legal counsel for City National BancShares Inc. was provided by Holland & Knight LLP. Big Country Bancshares Inc. was represented by Fenimore, Kay, Harrison LLP, with SAMCO Capital Markets Inc. serving as its financial advisor.
