Charles T. Doyle, Chairman of Texas First Bank, announced on August 29, 2013 that Texas First Bank has reached an agreement to acquire Hull State Bank. After the pending transaction is approved by the proper regulatory agencies, Texas First Bank will have locations spanning from Galveston County along the Texas Gulf Coast to Liberty County.
Texas First Bank is expanding its commitment to being “Strong, Solid and Secure” throughout the southeast part of the state by extending its footprint into these communities.
Hull State Bank was formed in 1919 and has locations in both Hull and Liberty, Texas. The deep rooted community bank currently holds $47 million in assets and $18 million in loans. H.J. Gilfillian, Jr., CEO of Hull State Bank commented, “It was a perfect fit to partner with Texas First. They bring the local community bank mentality with the strength and size to compete with anyone in our market.”
As of August 31, 2013, Texas First Bank’s total capital surpassed $84 million. At this capital level, Texas First Bank is able to provide its clients the resources required to fund their financial needs.
Following the acquisition, Texas First Bank will have over $870 million in assets. Chris Doyle, President and CEO of Texas First Bank, stated, “We’re excited to enter into the Hull and Liberty markets by merging with a well-established, local bank that has strong community ties.”
For Hull State Bank customers, both personal and business, this acquisition provides them access to the vast array of financial services that Texas First Bank offers, while still maintaining the superior level of customer service they have experienced in the past. The merger will bring an expanded suite of products to Hull State Bank, while offering 24 banking centers and over 50 ATM’s throughout southeast Texas.
Texas First Bank is proud of its community bank heritage. With local ownership comes the ability to make local decisions in all the communities they call home. Texas First is anxious to bring that same philosophy to Hull and Liberty.