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A lack of bank failures in Texas, New Mexico, Colorado and Oklahoma has Carlile Bancshares in Fort Worth starting to deploy its $328M in capital on banks that are still open but struggling.
September 30 -
With numerous attractive institutions and robust growth markets, the state could kickstart a round of traditional deals nationwide. The only problem? Texas bankers also know they're attractive, and the most comely banks aren't interested in low-priced dates.
February 8
A Texas holding company formed three years ago to roll up small banks in the Southwest and Colorado has struck its biggest deal yet.
Carlile Bancshares Inc. in Fort Worth announced late Monday that it is acquiring Northstar Financial Corp. in Denton, Texas, and its subsidiary, the $950 million-asset Northstar Bank. The deal, expected to close next quarter, would roughly quadruple Carlile's assets, to $1.3 billion, and nearly double its number of branches, to 19.
The acquisition would be Carlile’s fourth since the company was founded by longtime Texas bankers Tom C. Nichols and Don E. Crosby with roughly $328 million of capital. The company bought and merged two small Austin, Texas, banks early last year and in August it acquired Bank of Broadmoor in Colorado Springs. Its Austin bank, Treaty Oaks Bank, has five branches in and around the state capital and Bank of Broadmoor has four offices in Colorado Springs.
In a news release, Carlile said that Northstar would become its flagship bank. Northstar’s chairman, Rob Gentry, would join Carlile’s board and its president and chief executive, Tony Clark, would remain responsible for the bank’s day-to-day operations.
The companies did not disclose a sale price.
