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Captex Bancshares Inc. is breaking into Texas as a bank holding company with a deal that uses capital from prominent institutional investors.
On Sept. 28, the Bryan, Texas-based company completed its acquisition of state peer, Trenton-based Trenton Bankshares Inc. and unit First National Bank of Trenton. The deal was first announced in September 2016.
Chairman and CEO George Lea said deal investors are a "nice mix of individuals, family offices and institutional investors." Most notably, investment groups Clover Partners LP and Bay Boston are listed as investors in the deal.
First National Bank of Trenton, founded in 1901, has five locations throughout North Texas. Lea said the company will open another location by early 2018, and has plans to expand in other cities.
"We want to take the great platform and create something that serves a greater number of Texans and...