Charles G. Cooper, commissioner of the Texas Department of Banking, announced that Crowley-based Texas Exchange Bank SSB has completed its conversion to a Texas state-chartered bank from a state savings bank. The bank began operating as Texas Exchange Bank under its new charter effective January 1, 2022. Texas Exchange Bank SSB was originally chartered in 1970 and will enter the Texas Department of Banking’s portfolio with assets of approximately $2.8 billion as of September 30, 2021. The bank’s FDIC deposit insurance coverage for all deposits will continue without interruption or change. The bank operates two facilities located in Crowley and Fort Worth. Its executive team is led by CEO Casey Sullivan.
