Spirit of Texas Bank Completes First Phase of DFW Expansion with Fourth New Location

DALLAS, Aug. 2, 2013 /PRNewswire/ -- Spirit of Texas Bank, a community bank that provides a full-service offering of loan, deposit and on-line banking products for commercial and retail customers, introduced a new location yesterday at 3100 Monticello Avenue near Park Cities, its fourth full-service banking center to open in the DFW Metroplex since January.

The $525 millionHouston-based bank, which has had loan production offices in Rockwall and Fort Worth, launched its expansion effort with the purchase in mid-July of Peoples Bank, including the bank's $72.5 million in assets and its branches in Colleyville and Grapevine.  Concurrently, the bank opened a new full-service retail banking center in Fort Worth at 2718 South Hulen Street.

"We are committed to building a major presence in DFW quickly," explained Dean Bass, Spirit of Texas chairman and chief executive officer, "and with the opening of the new Uptown location in Dallas, we are now in a position to expand our operations even more."

The bank's expansion into Dallas and Fort Worth is being led by two veteran North Texas bankers--Bruce M. Davis, market president of Fort Worth and Roy Salley, market president of North Texas.

"We were pleased to be able to partner with Bruce and Roy," Bass said. "Both have deep roots in the banking industry in North Texas and throughout the state."

Davis was most recently president of the Tarrant County region for Mutual of Omaha Bank and has served as president and CEO of Solidus Bancshares, Fort Worth National Bank, Fidelity Bank and First State Bank.  He joined Spirit of Texas Bank in December of 2012.

Prior to joining the bank in January, Salley was the Managing Director Investment Banking for Commerce Street Capital.  He has also served as chairman and CEO of Sovereign Bank and Sovereign Bancshares; as CEO of Colonial Bank Texas, and as President and CEO of First Mercantile Bank.

Since joining the bank, Davis and Salley have developed a strong base of shareholders, raising more than $13 million locally. "This clearly shows the level of support in both Dallas and Fort Worth for Spirit of Texas Bank," Salley noted.

Davis said the bank will bring its focus on small and mid-sized businesses to the DFW Metroplex, noting that it is currently ranked among the top 100 most active lenders by the Small Business Administration.

CONTACT: Susie Lomelino
slomelino@calisepartners.com
214.269.2092

SOURCE Spirit of Texas Bank