Community Bank to merge with Northstar Bank of TexasMay 15, 2014
Fort Worth-based Community Bankers Inc. has agreed to be acquired by Carlile Bancshares Inc., also headquartered in Fort Worth, for an undisclosed price, the companies said May 15.
Carlile plans to merge Community Bankers’ subsidiary Community Bank with Northstar Bank of Texas, a wholly owned subsidiary of Carlile. Community Bank will continue to operate under its current name and logo until the merger is complete, which is expected to occur in the fourth quarter of 2014.
After the merger, the bank will be rebranded as Northstar Bank of Texas with Tony R. Clark, Northstar’s president and chief executive officer, at the helm.
Tom C. Nichols, co-founder, chairman and CEO of Carlile Bancshares, said key factors in the merger were the companies’ similar core values and shared belief in customer service.
“The combined organization will be the joining of two exceptional community banks with very similar cultures, resulting in one of the larger independent banks in North Texas,” Nichols said.
The merger will increase Northstar’s 16 banking branches to 26 in the North Texas and Austin areas with combined assets of $1.7 billion.
Northstar Bank of Texas, the largest community bank in Denton County, was acquired by Carlile Bancshares in July 2012. The Carlile portfolio includes banks in Colorado, Austin and Marble Falls as well as Goldome Financial Inc., which provides warehouse lines of credit to the mortgage lending industry.
In 2013, Northstar expanded with a new location in Arlington. Construction also started on a new location in Flower Mound, with plans to open mid-2014.