FirstBank & Trust Acquires Texas Savings Bank in Snyder

Published 07/13 2014 02:00PM

Updated 07/13 2014 02:06PM

LUBBOCK, TX (PRESS RELEASE) -- FirstBank & Trust announced [Thursday] that it has entered into a definitive agreement to acquire Texas Savings Bank located in Snyder, Texas.  Under the terms of the agreement, Texas Savings Bank will be merged into FirstBank & Trust and the Snyder location will operate as branch office of FirstBank & Trust. Subject to regulatory approval, both parties anticipate the transaction will be completed in the fourth quarter of 2014.

Texas Savings Bank, s.s.b. is a state chartered savings bank that has served the Snyder market since 1957.  As of May 31, Texas Savings Bank had total assets of $73 million.

"Texas Savings Bank has a long and proud legacy in Snyder," said Mike Van Meter, President & CEO of  Texas Savings Bank.  "We have been helping the citizens of Snyder finance their homes for more than 50 years.  FirstBank & Trust incorporates the same core values that we do and we are honored to partner with them in this merger."

FirstBank & Trust CEO, Barry Orr stated, "Texas Savings Bank is a perfect fit for us as we pursue our goal to provide financial services to all of West Texas.  We are thrilled to be a part of the Snyder community and look forward to rolling up our sleeves and getting to work in that market."

FirstBank & Trust is a full-service commercial bank offering customized products and services to businesses and consumers by offering innovative checking account products, state-of-the-art technological solutions and a focus on unsurpassed and unexpected customer service.

FirstBank & Trust has total assets of  $650 Million and is headquartered in Lubbock, Texas.  Texas Savings Bank customers will have access to FirstBank & Trust's trademarked checking account, CashBack CheckingTM as well as access to thousands of ATMs nationwide, a mobile app rated 5 stars by iTunes®users and an online banking product that includes BillPay, Personal Financial Management, and mobile check deposit.

Orr added, "We look forward to working with Texas Savings Bank to ensure a smooth transition for both customers and employees.  With our hometown values and advanced technology, we believe the merger of FirstBank &Trust and Texas Savings Bank is a natural fit that will provide a lot of new opportunities for the community."

FirstBank & Trust
9816 Slide Rd.
Lubbock, TX 79424

Texas Savings Bank
4500 College Avenue
Snyder, TX  79549

(Press release from First Bank & Trust) 

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