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American Momentum Bank is committed to buying Brazos Valley Bank in College Station, Texas, though it swapped out its application with the Federal Reserve.
October 13 -
Since it opened for business in late 2006, American Momentum Bank in Tampa has been sitting on much of the record-setting $100 million of capital it raised.
December 4
American Momentum Bank in Tampa, Fla., is seeking regulatory approval to move its headquarters to College Station, Texas.
A relocation would make it easier for the $937 million-asset bank to make acquisitions in Texas, according to several news reports published Monday. The bank is majority owned by Adam Bank Group, which is already based in College Station.
"We believe that Texas has a number of attractive acquisition opportunities and as a Texas state-chartered bank, we would be able to negotiate those Texas acquisitions more effectively," Sam Davis, American Momentum's president,
American Momentum has applied for the charter change with the Federal Deposit Insurance Corp. and the Texas Department of Banking and expects approval by the end of the month, according to the
American Momentum was started in 2006 by an investor group led by Donald Adam, who had previously founded First American Bank in Texas, which he sold to Citigroup (NYSE: C) in 2005.
