Vantage Bancorp, a San Antonio based financial holding company, has reached an agreement to merge with Medina Bankshares, the parent company of D’Hanis State Bank.
The definitive agreement, which requires regulatory approval, is expected to be finalized before the end of 2014.
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Under the brand name of Vantage Bank Texas, Vantage Bancorp owns and operates five banking centers.
Following completion of the planned combination, Medina Bankshares will add two D’Hanis State Bank centers to the Vantage Bank family, one in D’Hanis, Texas and another in Hondo, Texas.
Vantage Bank Texas president and CEO Guy Bodine said, "Our combined banks will better allow D’Hanis Bank to serve and grow in Medina County where they have had a presence for almost 100 years."
D’Hanis State Ban president Laurie Mayfield stated, "In addition to a much higher lending limit, we will now be able to provide our customers with a wider range of banking services and more electronic banking conveniences."
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By GlobalDataFounded in 1923, Vantage Bank Texas operates as a state chartered bank with $356m in assets, whereas D’Hanis State Bank is a Texas state chartered institution with $46m in assets.
