BOM– Grant Bancshares Inc., the parent bank holding company for BOM Bank and headquartered in Natchitoches, Louisiana, has completed its previously announced acquisition of First State Bank in Hemphill, Texas. As part of the acquisition, First State Bank was merged with and into BOM Bank. BOM Bank will operate First State Bank’s sole office, located at 101 Worth Street in Hemphill, as a full-service branch. Staffing changes are not expected at the location.
The merger of the banks brings BOM Bank to 15 locations across Northwest Louisiana and East Texas. Upon closing of the acquisition, BOM Bank will have $500 million in total combined assets.
“We are excited to welcome all existing customers to the BOM Bank family,” says Ken Hale, president and CEO of BOM Bank. “As a community bank, we are very familiar with small town banking, and our new customers can expect the same dedicated, hometown service they’ve been accustomed to.”
The merger of the banks became effective on September 30, 2019. Data processing integration is expected to be completed on February, 22, 2020, at which time customers in Hemphill will gain access to BOM Bank’s products, services and technology options. Prior to the integration, customers will continue to use the same First State Bank products and services, such as debit cards, checks and ATMs.
For more information about BOM Bank, visit bofm.com or call the local Hemphill branch at (409) 787-3361. Additional information regarding the First State Bank acquisition, including a letter to customers, is available on the BOM Bank website.
About Grant Bancshares, Inc. and BOM Bank
Grant Bancshares, Inc., headquartered in Natchitoches, Louisiana, is a registered financial holding company that provides a broad range of banking, financial and insurance services through its wholly-owned subsidiary, BOM Bank, and its subsidiary, BOM Financial Services, L.L.C. BOM Bank was established in 1903 in Montgomery, Louisiana and is headquartered in Natchitoches, Louisiana. BOM Bank has a strong tradition of supporting the communities in which it operates, combining hometown values with modern, full service personal and business banking products in a number of convenient locations across Northwest Louisiana and East Texas. For more information, visit bofm.com.
Pictured above from left are Kelcie Sutton, Tanya Walsh, Carrie Welch, Caleb Shaver, Tammie Cox, Robert Russell, Karen Ford, Tonja Key, Betsy Ancelot, Sydney Clark, and Cindy Smith.