On February 21, William E. Browning, chairman of Yoakum National BancShares Inc., the holding company of Yoakum National Bank, and Jim Smitherman, CEO of Yoakum National Bank, announced that a definitive agreement has been executed in which Yoakum National BancShares Inc., has agreed to acquire 100 percent of the issued and outstanding shares of common stock of Ganado Bancshares Inc., the holding company of Citizens State Bank of Ganado. The transaction is expected to be completed in the second quarter of 2025 with the combined banks at approximately $375 million in assets.
“We are very pleased to be expanding our service area to Ganado and Edna,” Browning says. “Yoakum National Bank will be respectfully building on the heritage that Citizens State Bank started 116 years ago by bringing superior service and the latest banking technologies to the people of Jackson County.”
Established in 1890, Yoakum National Bank has branches in Yoakum, Katy and Odessa. Established in 1908, Citizens State Bank of Ganado is the last independent bank left in Jackson County and has branches in Ganado and Edna.
Chet Fenimore and Pam O’Quinn with Fenimore Kay Harrison served as legal advisors and Dan Bass with Performance Trust Capital Partners served as financial advisor to Yoakum National BancShares Inc. Gary Olson with Gary W. Olson Law served as legal advisor to Ganado Bancshares Inc.
