VeraBank acquires Panola National Bank
VeraBank Inc., the bank holding company for VeraBank in Henderson, recently announced the completion of its agreement to acquire Panola National Bank, a community bank with assets totaling more than $130 million.
Chartered in 1983, PNB is a full-service bank with two locations in Panola and Harrison counties.
VeraBank is a privately owned community bank that serves the Austin metro, East and Central Texas with its network of 36 branches. The bank has $3.1 billion in assets, with trust assets under management of approximately $750 million. This transaction will expand VeraBank’s footprint into Panola County and increase its presence in East Texas.
“Bringing our two organizations together will be a true win-win, and we’re proud to be able to serve more customers and more markets with our genuine style of banking,” said Brad Tidwell, president and CEO of VeraBank.
Combining the banks takes VeraBank from $3.1 billion to $3.2 billion in assets, and from 36 to 38 branches. VeraBank anticipates converting the charter and operations of PNB into VeraBank later this summer.