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American Momentum Bank acquires Commercial State Bank, expands into West Texas
COLLEGE STATION, Texas (Jan. 21, 2019)—American Momentum Bank, a Texas-chartered banking association headquartered in College Station, completed its acquisition of Commercial State Bank on January 18, 2019.
Midland-based Commercial State Bank, with $676 million in assets as of December 31, 2018, has seven locations in West Texas, including in Midland, Andrews, Odessa, Lubbock and Seminole. American Momentum, with total assets of $1.1 billion as of December 31, 2018, has three full-service Texas banking centers in Bryan/College Station, a loan production office in Dallas and 10 full-service banking centers in Florida.
"We are very pleased to expand our footprint in West Texas,” said Donald A. Adam, Chairman and CEO of American Momentum Bank. “We’ll be able to offer additional banking services to the community while maintaining the same friendly West Texas way of doing business that people have come to appreciate from Commercial State Bank."
The merger will bring new service offerings to current and future Commercial State Bank clients, including single-family mortgage lending and Small Business Administration (SBA) lending, and with the systems conversion in late April, a new online banking platform.
"As we transition, we will maintain the high level of customer service and the personalized approach that West Texas deserves, as well as adding even more value to the community,” said John Grist, who will continue with the organization as CEO – West Texas. “The knowledgeable Commercial State Bank bankers our clients have come to know and trust will continue to serve as part of the American Momentum Bank team."