Conroe-based Spirit of Texas Bancshares Inc., the holding company for Spirit of Texas Bank, announced that on January 8 it completed the previously announced sale of its Jacksboro location to Graham-based First State Bank. Under the terms of the transaction, the bank sold loans of approximately $3.5 million, deposits of approximately $5.7 million and the real property on which the branch is located.
“We are pleased to have partnered with First State Bank, a bank that shares a similar mission to Spirit of Texas Bank—consistently focusing on the well-being of the community,” says Dean Bass, Spirit of Texas' chairman and CEO. “This common foundation and alignment of core values should make for a seamless transition and benefit the Jacksboro community, clients and employees.”
Established in 1976, Spirit of Texas Bank has 38 locations in the Houston, Dallas/Fort Worth, Bryan/College Station, Austin, San Antonio, Corpus Christi and Tyler metropolitan areas, along with offices in North Central and South Texas. Established in 1983, First State Bank operates seven locations in Archer City, Graham, Jacksboro, Olney, Throckmorton, Woodson,