ONLINE BANKING

Lone Star Capital Bank, N.A. Announces Agreement to Acquire Business Bank of Texas, N.A.

 

Lone Star Capital Bank, N.A. (“LSCB”), headquartered in San Antonio, Texas, has entered into a purchase and assumption agreement for substantially all of the assets, deposits, and certain other liabilities of Business Bank of Texas, N.A. (“BBT”), headquartered in Austin, Texas. The acquisition of BBT by LSCB is expected to be completed early in the second quarter of 2021.

Danny Buck, President and Chief Executive Officer of LSCB commented “We are truly excited about this opportunity. Business Bank and its team of outstanding bankers fit well with LSCB and our culture of excellence and our intense focus on service to our customers and communities.” Dave Sather, Chairman of BBT added, “This is a fantastic combination of respected and talented people. This enhanced team will deliver a strong culture and skillset that will provide excellent service to our customers.”

Founded in 2007, and with total assets of $106 million as of November 30, 2020, BBT specializes in advising and serving the needs of small businesses and their owners. With one branch in Austin, BBT’s primary market is Central Texas. LSCB, founded in 2003 and currently with total assets of $304 million, has seven full-service branches in San Antonio, Drippings Springs, Marble Falls, Johnson City, and Blanco. With this transaction, LSCB will exceed $400 million in assets and will be a prominent provider of banking services in the Central Texas, Texas Hill Country, and San Antonio areas.

T.D. Winters, President and Chief Executive Officer of BBT added “We look forward to collaborating with the leadership and management at LSCB. Blending our teams will provide a solid platform of support to our current and future customers in Central Texas and the Hill Country.” Bill McCandless, Chairman of LSCB agreed and said, “The combination of our banks gives us the size to be very competitive in this region. We welcome our new teammates and look forward to building our success together immediately and into the future.”

Lone Star Capital Bank specializes in loans, deposit accounts, and other services to small and medium sized businesses, entrepreneurs, real estate professionals, and investors.

In connection with the transaction, Bruce Toppin with Langley & Banack served as LSCB’s legal counsel. Dan Bass with Performance Trust Capital Partners served as financial advisor to BBT and Larry Temple served as BBT’s legal counsel.

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