Bank At State National Bank Of Groom? You Need To Know This.
In a press release that was recently issued, the news that some changes were coming to State National Bank of Groom. If you bank there, here's what you need to know.
Say Hello To 5th Generation Holdings, INC
The press release stated that State National Bank of Groom had been acquired by 5th Generation Holdings, INC. The announcement was made yesterday by State National Bank of Groom and their parent holding company, Groom Bancshares, INC.
Don't worry, State National Bank of Groom will still be operating under the name State National Bank. As a nationally chartered bank.
State National Bank Of Groom
An interesting bit of history was included in the press release. The State National Bank of Groom was founded in 1904. Since then it has grown, has more than $40 million in assets, and has locations in both Groom and Amarillo.
Several times in the press release it is mentioned that community banking is "at the heart" of rural communities. They're all about community. The President of 5th Generation Holdings, INC. wasn't the only one that felt that way.
A statement from his wife was also included in the press release, with he stating how blessed they are to be able to call Groom home, and how they look forward to serving the community.
According to the press release, regulatory approval for the acquisition is expected to come some time in the second quarter of this year.
All in all, at least from the press release, it sounds like this could possibly lead to some bigger things for State National Bank.