EVANT, TX — With a strong history and deep ties to Coryell county, First National Bank of Evant today announced that it will acquire the Oglesby location of TFNB. The expected transaction date is mid-February 2017.
In connection with the proposed acquisition, TFNB Oglesby will merge with and into First National Bank of Evant. The existing banking location of TFNB Oglesby, located at 117 FM 1996, Oglesby, Texas, will become a full-service branch banking office of First National Bank of Evant.
Upon the acquisition, First National Bank of Evant will have assets of approximately $90 million.
In early 2015, TFNB acquired Oglesby State Bank, which was established in 1925. The Oglesby bank is the only local financial institution headquartered in Oglesby.
Ronnie Sullins serves as chairman and chief executive officer of First National Bank of Evant, and TFNB Oglesby bank president Mike Walters will remain in the position of president when the acquisition is complete.
“Acquiring Oglesby makes sense because we are so entrenched in Evant and Gatesville,” said Sullins. “We will work to make the transition seamless for customers.”
Sullins and Walter both are natives of Oglesby and have strong ties to Coryell county.
“We are pleased that the Oglesby bank will continue to be operated as a community bank,” said Mike Beard, chairman of TFNB. “FNB is an outstanding banking organization.”
About First National Bank of Evant
First National Bank’s mission is to meet the needs of the market it serves by providing community leadership and quality financial services. First National Bank of Evant offers the services of a modern financial institution while maintaining the integrity of a community bank where decisions are made locally. The bank takes pride in having served the Coryell county community and the surrounding area since 1912. In Evant, FNB is located at 115 S. Memory Lane. FNB’s Gatesville location is at 3411 E. Main Street.