Texas United Bancshares (NASDAQ:TXUI)
Historical Stock Chart
From Jun 2019 to Jun 2024
State Bank Announces Opening of Two New Banking Centers in
Bryan-College Station
LA GRANGE, Texas, Feb. 23 /PRNewswire-FirstCall/ -- Texas United Bancshares,
Inc. (NASDAQ:TXUI), a growing community banking organization located in central
and south central Texas and in areas north and south of the Dallas-Fort Worth
metroplex, announced that its subsidiary, State Bank, is expanding its presence
in the Bryan-College Station market. Two new full- service offices are
currently under construction and are expected to be completed during the third
quarter of 2005. With these additional offices, State Bank will have a total
of five full-service offices in the Bryan-College Station market.
L. Don Stricklin, President and Chief Executive Officer of Texas United
Bancshares and State Bank, stated, "We are delighted to expand our presence in
the fast-growing Bryan-College Station market, where we currently have the
fourth largest deposit market share. This de novo branch expansion reflects
our corporate strategy to focus on suburban growth markets in the major Texas
metropolitan areas."
"We are building the branches in rapidly growing residential areas, and State
Bank will be one of the first banks with a physical presence in these
neighborhoods. We estimate a cost of $1.5 million for both branches and
anticipate break even within 18-24 months. We plan to staff with a combination
of current State Bank employees and experienced local bankers. This expansion
will provide additional convenience for our current Bryan- College Station
customers as well as build our share of this dynamic market."
Texas United Bancshares, Inc. is a registered financial holding company listed
on the Nasdaq National Market under the symbol "TXUI." Its wholly-owned
subsidiaries, State Bank and GNB Financial, N.A., offer a complete range of
banking services through 27 full-service banking centers. In addition, State
Bank has 18 mortgage loan production offices located in Houston, San Antonio
and Austin through the Bank and its wholly-owned subsidiary, Community Home
Loan.
Except for historical information, certain of the matters discussed in this
news release may constitute forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 that involve risks and
uncertainties, including, but not limited to, the following: general business
and economic conditions in the markets Texas United serves may be less
favorable than expected which could decrease the demand for loan, deposit and
other financial services and increase loan delinquencies and defaults; changes
in the interest rate environment which could reduce Texas United's net interest
margin; acquisition integration may be more difficult than anticipated;
legislative or regulatory developments including changes in laws concerning
taxes, banking, securities, insurance and other aspects of the financial
securities industry; competitive factors may increase, including product and
pricing pressures among financial services organizations; and changes in
accounting principles, policies or guidelines. All written or oral
forward-looking statements are expressly qualified in their entirety by these
cautionary statements. Please also read the additional risks and factors
described from time to time in Texas United's reports and registration
statements filed with the Securities and Exchange Commission. We disclaim any
obligation to update or revise any forward-looking statements contained in this
release.
DATASOURCE: Texas United Bancshares, Inc.
CONTACT: Tom Adams, Texas United Bancshares, Inc., +1-979-968-7261