LONGVIEW (TYLER MORNING TELEGRAPH) - Longview-based Texas Bank and Trust announced
this week its intention to acquire the First National Bank of Canton, as
well as its Forney branch.
Texas
Bank and Trust has branches in Longview, Gladewater, Tyler, Van,
Terrell, Cushing and San Augustine, and affiliate banks in Overton and
Lindale. It announced the signing of a definitive agreement to acquire
the First National Bank of Canton and upon completion of the
acquisition, subject to regulatory approval, the Canton bank will
operate as a branch of Texas Bank and Trust, according to a prepared
statement. The acquisition is expected to close in the fourth quarter of
2012.
Texas Bank and Trust President and Chief Executive Officer Rogers Pope
said the acquisition is a perfect fit with its footprint along the
Eastern section of the Interstate 20/Highway 80 corridor.
"With
the addition of First National Bank of Canton, we will have branches
from Marshall on the East to Forney on the West," he said.
Ben
Shirey, president of First National Bank, will remain with Texas Bank
and Trust as Canton market president. Pope said he and Shirey have been
friends for more than 35 years, since Shirey began his banking career at
the First State Bank in Overton.
"Ben is a proven, outstanding
banker, and we are honored to have him on our team," Pope said. "We look
forward to his continuing leadership in the Canton and Forney markets."
Shirey
said the association with Texas Bank and Trust affords the Canton bank
the capability to offer customers expanded products and services.
"We
are particularly pleased to extend brokerage and trust services to our
customers, and to offer the convenience of multiple bank locations in
nearby communities such as Tyler, Longview, Van and Terrell to our
present and future customers. Texas Bank and Trust has a long history as
one of the premier independent banks in Texas, and their ‘service
first' attitude blends perfectly with our philosophy of ‘doing our best'
for our customers."
Texas Bank and Trust has total assets of $1.5 billion, according to the statement.
