PlainsCapital Bank Branches AcquisitionMonday, 08 August 2016
Falcon Bank to acquire two PlainsCapital Bank Branches
Falcon International Bank announced recently that it has entered into a definitive agreement with PlainsCapital Bank for the purchase of two full service bank branches located at 6625 San Dario Ave. and 6002 McPherson Rd. in Laredo, Texas. The transaction will have the effect of adding over $10 million in loans, and $69 million in deposits.
Falcon Bank President & CEO, Gilbert Narvaez Jr., stated, “This transaction will provide the opportunity to further expand our market share in Laredo. It has always been important to Falcon to pursue opportunities in the markets we know best and this exemplifies such opportunity. We have cultivated many banking relationships in this community, and look forward to welcoming PlainsCapital Bank’s customers and employees to the Falcon Family. We are a community oriented bank committed to providing our customers with the quality service that they deserve.”
Falcon Bank was founded in Laredo, Texas in 1986 and is the 57th largest bank in Texas. 2016 has proven to be an exciting year for Falcon, not only are they celebrating their 30th anniversary, in February they surpassed the billion dollar asset mark. To add to this momentum Falcon was recently recognized by ICBA Independent Banker with a number 46 ranking in their listing of the Top 50 Fastest Growing Community Banks in the nation. Following the completion of this transaction, Falcon will have total assets exceeding $1.1 billion, and 17 branch locations up and down the IH-35 corridor from Laredo to Buda, and along the United States and Mexico border from Brownsville to Del Rio, and banking representative offices in Monterrey & Guadalajara, Mexico. This acquisition is subject to regulatory approval and is expected to close in the fourth quarter of 2016.