Midland, Texas–FirstCapital Bank of Texas, N.A. and Fidelity Bank, together announce the signing of a definitive agreement in which Fidelity Bank will merge with FirstCapital Bank of Texas (FCB) in a stock and cash transaction. Upon completion of the merger, Fidelity Bank will merge with and into FCB with FCB being the surviving bank. The combined bank will have approximately $1.6 billion in total assets, $1.3 billion in total loans, and $1.4 billion in total deposits with sixteen locations across Texas.
FCB operates from its main office in Midland, Texas, with 10 branches located throughout West Texas, the Texas Panhandle, and the Texas Hill Country, with a full-service branch set to open in Dallas in early 2019. As of September 30, 2018, First Bancshares, Inc., the holding company for FCB, on a consolidated basis, reported total assets of $1.1 billion and total deposits of $949 million. FB Bancshares is the holding company for Fidelity Bank, which is headquartered in Wichita Falls, TX and operates six branches in Wichita Falls and surrounding communities. As of September 30, 2018, Fidelity reported total assets of $517 million and total deposits of $401 million.
“As a community bank, we value the communities we serve,” said FCB Chairman Ken Burgess. “We are excited to add Fidelity’s customers, employees and communities to our FCB family. We feel Wichita Falls and the surrounding communities fit our bank’s model extremely well and look forward to continuing to live out our culture in these new communities.”
“We are excited about the opportunities that the merger with FirstCapital Bank of Texas will bring, not only to our current Fidelity customers, but our communities as well,” said Fidelity Bank President and CEO, Tommy McCulloch, Jr. “Like Fidelity Bank, FirstCapital Bank of Texas is a bank with a commitment to exceptional customer service and community investment. I genuinely believe that together we will be able to leverage our strengths, relationships and team members to further benefit our customers and communities.”