FirstCapital Bank of Texas and Fidelity Bank authorities announce a merger between the two companies. With the Fidelity Bank headquarters in Wichita Falls, many Texomans can expect to see a few changes with the new year.
According to FCB Chief Marketing Officer Katie Boyd, Fidelity Bank will merge with and into FBC with FBC being the surviving bank.
“As a community bank, we value the communities we serve,” FCB Chairman Ken Burgess stated in the press release. “We are excited to add Fidelity’s customers, employees and communities to our FCB family. We feel Wichita Falls and the surrounding communities fit our bank’s model extremely well and look forward to continuing to live out our culture in these new communities.”
FB Bancshares is the holding company for Fidelity Bank, which is headquartered in Wichita Falls, TX and operates six branches in Wichita Falls and surrounding communities.
According to the press release The acquisition is a stock and cash transaction and the current shareholders of Fidelity Bank will be significant owners of the combined company. Upon consummation of the transaction, two members of Fidelity’s board will join the Board of Directors of First Bancshares of Texas, Inc. and one will join the Board of Directors of FirstCapital Bank of Texas. The transaction has been approved by the Boards of Directors of both companies and is currently expected to close during the first quarter of 2019.
For more information about the merger, read the press release above or email Boyd here.