Central Texas has experienced phenomenal growth recently with over 500,000 people moving to the area in the last five years. One of the cornerstones of the region’s astonishing influx of new residents is the availability of economic opportunities. The business-friendly environment, the booming tech and research industries, its collaboration with the U.S. military, and its growing automotive manufacturing sector combine to bolster Central Texas’s economic success.
With the growth of the economy and population that the region is experiencing, businesses in Central Texas look for a local banking partnership to meet their growing needs and deliver personalized service. The Bank of San Antonio, The Bank of Austin, and Texas Hill Country Bank have merged to create Texas Partners Bank, unifying the three banks’ strengths while maintaining their commitment to their respective communities.
J. Bruce Bugg, Jr., chairman, president, and chief executive officer of Southwest Bancshares, Inc., the holding company for the newly-formed Texas Partners Bank, said of the merger,
“We have created a Central Texas banking franchise that is unique in its ability to serve three rapidly growing markets – San Antonio, Austin, and the Texas Hill Country – with personal service and independent decision-making for local businesses. We have a tight regional focus that will drive growth and increased profitability.”
Brent Given, President and CEO of Texas Partners Bank, is confident that this unification will power new opportunities.
“This merger will only strengthen each of the three banks and, with a like-minded philosophy and leadership team in all three markets, we can expand the scale of our relationship-oriented financial services to our customers throughout Central Texas.”
With the banks’ merger comes increased capital, technology, and resources to keep pace with and meet the demands of the changing landscape of Central Texas’s rapidly growing business community. Although the banks have merged, they will each continue to operate under their current names and keep their executive management teams and regional advisory boards to maintain their community-oriented focuses and cultures. Texas Partners Bank was founded by local business leaders that have embedded their knowledge of each city’s business climate into the foundations of the bank’s core values.
The Bank of San Antonio’s focus since its inception has been empowering local businesses. Highlighting the business bank’s client-first philosophy, Market Executive Brandi Vitier, who leads the private banking, commercial and business divisions, says,
“Here, banking is about the clients. Banking is about adding true value to a client’s business.”
Texas Hill Country Bank, founded in 2009, brings a client-first mentality to the growing Texas Hill Country area. The merger will help them strengthen their service. “The Texas Hill Country is growing and our clients are participating in more opportunities that require access to stronger banking services and resources. This merger will really open the door to those opportunities,” said Texas Hill Country Bank President and CEO Roy Thompson.
Jon Eckert, president and CEO of The Bank of Austin, said the merger will give The Bank of Austin the resources it needs to become the business bank of choice in Austin. “While we have only been open for three years, our goal – as demonstrated by the quality of our board of directors – is to be Austin’s business bank. The merger gives us even greater strength to achieve that goal,” he said.
The communities that each bank serves will benefit from the formation of Texas Partners Bank because their local business banking partners have become stronger in the wake of the merger. The banks have merged to carry on their missions: power local businesses through strong relationships, concierge-quality service, knowledgeable strategies, and world-class resources.