American National Bank to acquire Tarrant County-based Bryant-Irvin Bancshares

by PegNews wire

Terrell, Texas—American National Bank of Texas (ANB), one of the oldest and largest independently owned banks in the state, and Bryant-Irvin Bancshares, Inc., (BIB) today announced that they have signed a Definitive Agreement for ANB to acquire BIB and its subsidiary, Citizens National Bank (CNB), a Fort Worth-based financial institution with more than $140 million in assets and four locations in Tarrant County.

No terms were disclosed. The transaction, which is subject to shareholder and regulatory approval, is expected to close on or before October 31, 2007. Baxter Fentriss & Company acted as financial advisor to BIB.

Dickerson and other key management executives will continue to provide leadership in the Tarrant County market. Dickerson will serve as Fort Worth market president for ANB. CNB’s main office is located at 2720 W. 7th Street in Fort Worth. Additional locations are in Benbrook, Mansfield and North Richland Hills.

“Tarrant County is one of the fastest-growing areas in North Texas,” said Robert A. Hulsey, president and chief executive officer of ANB. “At the same time, it remains a community that recognizes the inherent value in relationship banking. CNB is a quality community bank with a solid reputation, outstanding leadership and locations, and a proven track record in this market. We are fortunate to have Ray’s expertise in developing the Tarrant County market.”

Based in Terrell, ANB recently expanded into Tarrant County with the lease of 5,600 square feet of office space in Summit Office Park at 1200 Summit Ave in Fort Worth. The new branch will open this summer as ANB’s 28th location.

Perry Ginn, ANB’s regional president over Tarrant and Johnson Counties, will lead the bank’s Tarrant County operations. The Summit office will also house the bank’s recently established Tarrant trust services division, which will operate under the auspices of ANB’s Wealth Management Group. Bob Roten, senior vice president of the Retirement Group and regional trust manager, will head up the trust services division in Tarrant County.

About Bryant-Irvin Bancshares and Citizens National Bank

Bryant-Irvin Bancshares and its subsidiary, Citizens National Bank, were chartered in 1986. An independent community bank, CNB has assets exceeding $140 million and four locations in Tarrant County. Focusing on building relationships, CNB offers quality commercial and consumer financial products and responsive personal service. Visit CNB online at www.citizensnationalbank.com.

About American National Bank of Texas

American National Bank of Texas, founded in 1875 in Terrell, is one of the oldest and largest independently owned banks in the state. With assets exceeding $1.5 billion, the bank has 27 banking centers throughout Northeast Texas serving Collin, Dallas, Hunt, Johnson, Kaufman, Rockwall, Tarrant and Van Zandt Counties. ANB provides individual and corporate trust, investment and estate planning services through its Wealth Management Group as well as personal and commercial insurance and risk management services through SleeperSewell Insurance Services, Inc. Visit American National Bank on the Web at www.anbtx.com.