News

News Release

June 12, 2018

THE FIRST STATE BANK TO ACQUIRE

THE FIRST NATIONAL BANK OF WOODSBORO

The First State Bank, Louise, Texas is excited to announce that it has entered into a definitive agreement to acquire The First National Bank of Woodsboro. The acquisition was approved by the Board of Directors and shareholders of both banks and received regulatory approval. The expected closing date is scheduled for August 2018. The acquisition will expand The First State Bank's presence along the Texas Gulf Coast by adding branch locations in Woodsboro and Refugio, Texas.

Delbert M. Cox, Acting President and CEO of The First National Bank of Woodsboro, stated "The First National Bank of Woodsboro has always been community oriented focusing on serving the banking needs of people and businesses in Refugio County. We believe that the First State Bank will carry on that tradition and provide superb banking services targeted for our local area and we are pleased to become a part of their fine organization."

The First State Bank, Louise, Texas is a full-service community bank established in 1956 with approximately $385 million in assets as of September 30, 2017 and locations in Louise, El Campo, Wharton, Sweeny, Blessing, Ganado, Bay City, Angleton, and Victoria, Texas. The First State Bank has proudly served its communities for over 60 years with conservative banking practices.

Chip Jenkins, CEO of The First State Bank, stated "We are very excited to continue expanding our footprint in the Texas Gulf Coast region. The market has been an extremely good fit for The First State Bank, and we wish to thank those who are already banking with us. For those that have not given us an opportunity yet, please drop by and give us a try, so you can see that we live up to our motto: The Friendliest Bank Anywhere."

Kinnan Stockton, President, added "We are a true Texas locally owned and operated Community Bank. We look forward to getting to know the people of Woodsboro, Refugio, and Refugio County and becoming involved as a strong corporate citizen in these communities that we will serve. Our goal is to become your Hometown Bank."