NACOGDOCHES, TX (KTRE) - Commercial Bank of Texas has been headquartered in downtown Nacogdoches for 110 years. It's now spreading some of its wealth around.
Commercial Bank acquired two branches of First International Bank. They are in Bedford and Lewisville, not far from Allen, Texas where Commercial opened a branch several years ago. All are in the Dallas-Fort Worth area where bank president, Tommy Ellison was on Tuesday.
"It's a reflection that our bank has certainly done well and we're able to take on some additional business. A correlation to that is we grow where our customers grow," said Ellison.
As the economy improves loans are paid off. The borrower benefits. So does the bank, but it means banks will need new customers.
"We will pick up about $50-million and about $40 million in additional loans. We're picking up some additional loan customers as part of the acquisition," said Ellison.
Ellison explains a factor in the purchase is the successful recruiting effort by Stephen F. Austin State University in the Dallas area. The goal is a ready made customer following mom and dad setting up a new account for their child.
"They leave school and they take jobs in that area or we pick them up when they start," said Ellison.
Ellison was in the Dallas area interviewing potential loan officers.
Closer to home, Commercial is building a new branch on the corner of North Street and Stalling's Drive in Nacogdoches. The full service banking center reflects community growth and its demand for convenient service. The newest Nacogdoches commercial branch is expected to be completed sometime this summer.