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Texas State Bank opened its first branch in 1991. The bank operated in Shelby, Angelina, and Tyler Counties. The bank was purchased by Banco Bilbao Vizcaya Argentaria along with State National Bank for $2.6 billion USD in 2006. [1] In 2019, the bank merged with American State Bank, with American State Bank being the successor of the merger. [2]
In the United States, a state bank is a bank in a U.S. state that is chartered by the government of that state, as opposed to a national bank which is chartered at the federal level. [ 1 ] [ 2 ] Overview
The bank's first acquisition out of state was the failing First National Bank of Crosby, Texas in February 1987. Central Bancshares became the first bank in Alabama to own a bank in another state and the first out-of-state bank to own a bank in Texas. [1] D. Paul Jones took over the CEO position from Brock in 1991. [6]
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State Bank of India, Mumbai. In Australia and the United States, a state bank in a federated state is usually a financial institution that is chartered by the government of that state, as opposed to one regulated at the federal or national level.
Texas First Bank is a state-chartered bank located in six counties along the Texas Gulf Coast. Founded in 1973, the bank today has 22 locations throughout Galveston County , Chambers County , Texas , Brazoria County, Texas , Harris County, Texas , Jefferson County, Texas , and Liberty County, Texas . [ 1 ]