HARLINGEN — Texas Regional Bank announced today it will merge with Blanco National Holdings Inc., adding four Hill Country banking centers in Blanco, Fredericksburg, Wimberley and Spring Branch to the Harlingen-based bank’s existing network of branches in the Rio Grande Valley and Falfurrias.
Texas Regional Bank is a wholly owned subsidiary of Texas State Bankshares Inc. The bank began operations in 2010 and now has assets in excess of $600 million.
Blanco National Holdings has assets of more than $180 million.
The transaction is subject to regulatory and shareholder approval.
“Texas Regional Bank has been searching for the right opportunity in the Hill Country and found it with Blanco National Bank,” Michael Scaief, chairman of Texas Regional Bank, said in a news release. “Blanco National Bank will provide the foundation for Texas Regional Bank to extend its core banking, wealth management and mortgage divisions throughout the Hill Country.
Shareholders of Blanco National Bank also expressed support for the merger. “We looked at a number of banks and found Texas Regional Bank to be the best fit for us and the communities we serve,” said board member David Behrends.
Scaief will continue as chairman and president of Texas State Bankshares Inc. and chairman of Texas Regional Bank. Mark Tidwell will be Market President over Hill Country operations. Paul Moxley will continue to serve as President and Chief Executive Officer of Texas Regional Bank.
“The merger creates a team of seasoned community bankers from both regions who are accustomed to building customer relationships and being the “bank of choice,” Moxley said.
Blanco National Bank was established in 1906. It originally was located in the County Courthouse building on the square in downtown Blanco.
