In November, Karnes City-based Karnes County National Bank announced the formation of Karnes County National Bancshares Inc., a new holding company for the bank, according to a report in the Beeville Bee-Picayune. “The move aims to maintain the bank’s independence while supporting future growth and ensuring its position as a premier community bank in South Texas,” the newspaper states.
“We really have been serving the community for 124 years and so this is a way to keep that legacy going,” H.M. Ruckman III, chair, told the Bee-Picayune. “[We are ] very proud of that, and anyway, I think it’s been a good, fun thing for the community. By taking this step, it’ll allow us to serve the community even better down the line.”
“This is just a legal shift,” Ruckman adds. “The owners are staying the same, the employees stay the same [and] Karnes County National Bank is still Karnes County National Bank. It’s a legal vehicle to enable us to grow and serve the community better. [It] makes it easier to raise capital if needed or borrow money to grow, [and] maybe acquire other banks,” Ruckman notes.
The decision was approved at a special shareholders’ meeting in September, the Bee-Picayune notes, adding that “approximately 85 percent of U.S. banks now operate under holding company structures.”
“We’re talking about ways to maximize the bank for another 125, 200 years or more,” says Alec Alexander, president and CEO.
Established in 1901, Karnes County National Bank operates branches in Karnes City, Beeville and Kenedy.