On March 15, Natchitoches, Louisiana-based BOM Bank announced that it has signed an agreement to acquire nine Arp, Texas-based American State Bank locations in Texas. These include American State Bank’s Haslam, Timpson, Center, Lufkin, Chestnut, Huntington, Chester and Conroe branches, as well as one soon-to-be-renovated location. The proposed transaction is expected to close in the fourth quarter of 2024.
“BOM Bank is deeply familiar with small-town banking in East Texas,” observes Mark Lowery, chairman of the board and regional market president of American State Bank. “We are confident our customers will be pleased with the additional banking locations and services offered through BOM Bank. These locations may have a new name, but the faces that customers know will be the same.”
“We are thrilled to welcome the customers and employees of American State Bank to the BOM Bank family,” says Ken Hale, president and CEO of BOM Bank. “This acquisition aligns with our mission to deliver exceptional banking solutions while upholding the values of integrity, reliability, and community engagement.”
BOM Bank is a certified community development financial institution committed to promoting volunteerism and addressing the needs of the unbanked and underbanked communities. According to a press release announcing the acquisition, it “underscores BOM Bank’s dedication to fostering economic prosperity and enhancing the quality of life for residents across Louisiana and Texas, further solidifying its position as a leading community bank in the region.”
Established in 1903, BOM Bank operates 19 locations in Grant, Natchitoches, Sabine, Bienville, Bossier, Caddo and Rapides parishes in Louisiana in addition to Sabine and Angelina counties in Texas.
