The North Texas-based companies say the merger creates a state-chartered bank with over $700 million in assets and 11 offices.
In July, Carona’s company bought First State Bank of Rice, merged it with First National and renamed the company Harmony Bank. That gave it new locations in Waxahachie, Ennis, Italy and Rice and boosted its assets to $350 million.Harmony traces its roots to 1901, when local farmers, ranchers and businessmen began offering financial services in Kemp, a Kaufman County community of about 1,100 residents today.
“Merging with Harmony Bank is synergistic for our teams, and we look forward to the benefits it will bring to our customers,” said Texas Brand Bank chairman Edward B. Tomlinson II in a statement. “We are committed to maintaining the great personal service that our customers have come to expect from us.”was created to primarily serve small businesses, with a loan limit of $7 million.
Texas Brand Bank CEO William E. Lowe will lead Harmony Bank. He said the merger will allow the banks to “double our lending limit and acquire additional digital banking options, giving us the ability to provide greater service to current and future customers.”. Paul directs the work of an award-winning staff covering business news in the nation's fourth largest metro region. He's been The News' business editor since 2015.
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