BOERNE — Southwestern Bancorp, Inc (SBI), the holding company for Texas Heritage Bank, Thursday announced its plans to merge with Liberty Capital Bancshares, Inc., the holding company for Dallas-based Liberty Capital Bank.
The merger is based upon long-standing respect and mentorship between Texas Heritage principals, Jack Griggs and Steve Mack, and the co-founder of Liberty Capital, Holt Lunsford. Texas Heritage Bank, with $225 million in assets, has locations in San Antonio, Boerne and Cross Plains, Texas, near Abilene, with 40 employees. The bank’s origination dates to 1931 with the Citizens State Bank. After the merger, Mack will join the Liberty Capital board, and Griggs will continue his mentorship of Holt Lunsford and the board of Liberty Capital.
“We trust Liberty Capital and its leadership fully, and know they will take care of our bank,” said Jack Griggs, Senior Chairman of Texas Heritage Bank. “We look forward to continued growth in all the markets we serve.” All current leadership will remain in place at all bank locations, and customers should not feel any effect from the merger.
Now with a larger position in the Texas market, Liberty Capital Bank and Texas Heritage Bank currently have over $640 million in combined assets, positioning them for further growth, larger loan capacity, and an impressive competitive advantage.
Founded in Addison in 2008, Liberty Capital Bank serves privately held businesses, real estate investors, and owners and families of these businesses. With $415 million in assets and 32 employees, the bank’s leadership team includes Alan Morris as CEO, Ryan Friend as president, and co-founder Holt Lunsford serves as chairman of the board.
Comment
Comments