Important Notice Regarding FDIC Insurance
Effective as of October 21, 2020, The Bank of San Antonio, The Bank of Austin and Texas Hill Country Bank merged into a single banking charter. In connection with the merger transaction, The Bank of San Antonio’s surviving charter was renamed Texas Partners Bank. Although we are now Texas Partners Bank, our banking offices in the San Antonio market area will continue to operate as The Bank of San Antonio, a member of Texas Partners Bank, our banking offices in the Austin market area will continue to operate as The Bank of Austin, a member of Texas Partners Bank, and our banking offices in the Texas Hill Country market area will continue to operate as Texas Hill Country Bank, a member of Texas Partners Bank. As a result, the deposit accounts located at our San Antonio, Austin and Texas Hill Country banking locations all constitute deposits of Texas Partners Bank.
Your deposits at Texas Partners Bank will continue to be insured by the FDIC up to the maximum amount allowed by law. Any deposits you held separately at The Bank of San Antonio, The Bank of Austin and/or Texas Hill Country Bank prior to the date of the merger, will continue to be insured separately for a period of six months from the merger date. Any deposit made to an account you open after the merger at a location operating as The Bank of San Antonio, The Bank of Austin or Texas Hill Country Bank is a Texas Partners Bank deposit for FDIC insurance purposes.
Certificates of Deposit (CDs) are insured separately for six months from the merger date or until maturity, whichever is later. In addition, if you have a CD that is renewed for the same term and amount during this transition period, the CD will continue to be insured separately until the next renewal date.
After the six-month transition period, your deposits at The Bank of San Antonio, The Bank of Austin and/or Texas Hill Country Bank will be added together for the purpose of determining the about of your FDIC coverage at Texas Partners Bank. Your total deposits at Texas Partners Bank that are in the same ownership rights and capacity will be insured up to $250,000. If you have more than $250,000 in total deposits at the combined banks, you may call the FDIC directly at 877-275-3342 for more information about how your funds may be insured at Texas Partners Bank.