News Summary
Texas Regional Bank is set to open a new branch in Frisco as part of its expansion into the Dallas-Fort Worth area. The bank’s merger with Access Bancorp Inc. allows it to enter this growing market with plans for additional locations. This strategic move will strengthen the bank’s presence and capital, providing local residents with better banking options.
Texas – Texas Regional Bank is expanding its footprint into the Dallas-Fort Worth market by merging with Access Bancorp Inc. and its subsidiary AccessBank Texas. This strategic move will enable Texas Regional Bank to capitalize on the growth opportunities in one of the fastest-growing metro areas in the state.
The merger will grant Texas Regional Bank access to AccessBank Texas’s six banking centers located in Denton, Fort Worth, and Dallas. Following the merger, which is expected to be finalized in the first quarter of 2022 pending regulatory approvals, Texas Regional Bank plans to open five additional locations in the Dallas-Fort Worth region within the next four years.
Currently, Texas Regional Bank operates 23 banking centers across South Texas, the Texas Hill Country, and Houston. The bank’s CEO notes that establishing a presence in the bustling Dallas area is crucial for the institution to effectively impact its market share.
The merger represents significant growth for Texas Regional Bank. Upon completion, the bank will exceed $2.5 billion in assets and hold over $250 million in capital. In contrast, AccessBank Texas, which has been operational since 2007, has about $560 million in assets.
Founded in May 2010 with the acquisition of Falfurrias State Bank, which had merely $18 million in assets at that time, Texas Regional Bank has developed significantly in a relatively short period. The merger with AccessBank Texas is indicative of broader trends in the banking industry, where consolidation is becoming increasingly common due to growing regulatory challenges facing smaller banks.
In 2021, the mergers and acquisitions sector experienced record activity, reaching $5.8 trillion, a substantial 64% increase from the previous year. This trend suggests that organizations across various sectors are actively seeking to grow through mergers to enhance their market positions and operational efficiencies.
With the new branch in Frisco as a highlight of the expansion, Texas Regional Bank aims to tap into the demographic and economic growth of the Dallas-Fort Worth area. The newly established locations are expected to cater to the increasing number of residents and businesses seeking banking services in a rapidly developing region. The plan includes a tactical approach to reach communities directly and provide localized banking services, further enhancing customer relationships and engagement.
The Dallas-Fort Worth area is known for its robust job market and influx of new residents, providing a fertile ground for banking operations. Texas Regional Bank’s commitment to establishing multiple locations not only underscores the bank’s confidence in the Dallas area but also reflects the bank’s overarching strategy to broaden its customer base while meeting the needs of a dynamic market.
In conclusion, the expansion into the Dallas-Fort Worth region, supported by the merger with AccessBank Texas, signifies a pivotal development for Texas Regional Bank. The bank’s strategic actions highlight the ongoing shifts in the banking industry and the necessity for institutions to adapt and grow in response to market demands and regulatory environments.
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Author: STAFF HERE COLLEGE WRITER
The COLLEGE STATION STAFF WRITER represents the experienced team at HERECollegeStation.com, your go-to source for actionable local news and information in College Station, Brazos County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Brazos Valley Fair & Rodeo, Chilifest, and Aggie Muster. Our coverage extends to key organizations like the Bryan-College Station Chamber of Commerce and United Way of the Brazos Valley, plus leading businesses in education, biotechnology, and retail that power the local economy such as Texas A&M University, Fujifilm Diosynth Biotechnologies, and H-E-B. As part of the broader HERE network, including HEREAustinTX.com, HEREDallas.com, HEREHouston.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
