AUSTIN, Texas, September 29, 2021 / PRNewswire / – BAT Investments, Inc. acquired Capital Bank of Texas (CBOT), headquartered at Carrizo Springs, Texas, as part of an effort to expand and strengthen the role of community banks in the state.
Founded by longtime entrepreneurs and bankers Bobby Priestley and Tanya miller, BAT Investments has been supported by over 180 local investors who have contributed over $ 28 million in capital. âThe level of support we have received is a testament to the lasting influence that community banks have on their local economies,â Miller said. “We look forward to realizing the trust our investors have placed in us and in the role of community banks.”
BAT Investments’ expansion plans include a Austin branch in early 2022. âIt’s exciting to be part of such a robust market,â said Miller, who will serve as president and chief risk officer. âWe look forward to serving the small businesses and families of Central Texas. ”
With the acquisition, Capital Bank of Texas assets are barely finished $ 100 million, which includes branches of Sources Carrizo and Crystal city, as well as a production office for ready-to-use Austin. Co-founder Bobby Priestley, who will assume the role of the bank’s chief executive officer, said existing customers should not expect any downtime. âThe branches will remain open and the staff will continue to provide the quality service that customers are accustomed to receiving,â he said. “However, further product and service improvements will be forthcoming.”
Priestley and Miller are supported by a board of directors made up of civic leaders, business owners and financial services professionals representing both the Central and South Texas markets. They include George “Hal” Davis, Jr., Marc Mangum, Kevin hunter, Delores Crum, Mohamed Ali, Fred C. Allen, Jr., and Von Box.
BAT Investments has entered into a purchase agreement on January 15, 2021, and the acquisition was completed on September 28, 2021. The transaction was represented by a lawyer Bruce Toppin III with Langley & Banack, Incorporated from San Antonio.
About BAT Investments, Inc.
Composed of directors Bobby Priestley and Tanya miller, BAT Investments represents nearly four decades of experience in banking and financial services. Founded with a mission to foster community banking services and the small businesses they support; BAT is dedicated to revitalizing the concept of local banks supporting local businesses.
Media contact: Motley Crew Media for BAT Investments, Inc.
Nicole shiro | 512.740.6665 | [emailÂ protected]
Amy S. Layton | 512.695.0799 | [emailÂ protected]
SOURCE BAT Investments, Inc