Posted On: October 16, 2024 by Austin Bank in: General
Jeff Austin III, Chairman of the Board of Austin Bank, Texas National Association, is pleased to announce Austin Bancorp, Inc., the parent company of Austin Bank, has entered into an agreement to acquire The Chasewood Bank, Houston, Texas. Chasewood serves northern Harris County with two locations and assets of approximately $88 million. Subject to regulatory approval, the merger is scheduled to close in Q1 2025.
“We welcome the opportunity to serve the customers of Chasewood. They will be able to continue banking in Houston while having local access to three additional offices in our southernmost region – Creekside Park in The Woodlands, Montgomery, and Cleveland,” stated Jeff Austin, Jr., Senior Chairman of the Board.
Jeff Austin III added, “We are committed to providing the exceptional service to which the customers of Chasewood have become accustomed, and look forward to offering them advancements in technology; relationship banking with a full line of personal and business products and services; drive-thru ATMs; as well as access to all of Austin Bank’s locations.”
Bob Tyer, President/CEO of Chasewood, commented, “We have confidence that Austin Bank is the right choice for our bank and its customers. We look forward to becoming part of the Austin Bank family because of its commitment to quality and highly personalized service.”
Austin Bank President/CEO, Russ Gideon, added, “Austin Bank has a genuine interest in the growth and welfare of the communities it serves and is committed to their success. This devotion now extends to the customers and employees of Chasewood, and we anticipate only good things as they are added to our banking team.”
Austin Bank, a community bank headquartered in Jacksonville, Texas, has been voted one of the “Best Places to Work in Texas” for the fifteenth consecutive year. With assets in excess of $2.8 billion, bank offices are located in 38 Texas locations within 26 cities and fourteen counties. Austin Bank is locally owned and operated by the Austin family who is celebrating 115 years of service in the Texas banking industry.
Shortly after the acquisition, Chasewood will be merged into Austin Bank. After the merger, the combined assets of Austin Bank will total $2.9 billion with 40 locations.
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