The First National Bank of Byers, locally owned for 106 years, will soon become a subsidiary of Fidelity Bank of Wichita Falls. The transaction is expected to take place later this year, or in the early months of 2014.
The boards of directors for Fidelity Bank and First National Bank of Byers and their bank holding companies have entered into a definitive agreement in which the holding company that owns Fidelity will acquire the holding company that owns FNB Byers and thereby Fidelity will acquire FNB Byers. The transaction is subject to customary closing conditions, including approval by the shareholders of FNB Byers holding company and regulatory approval.
First National Bank of Byers operates full-service banking locations in Byers and Henrietta, as well as the Cattleman’s Branch in Wichita Falls.
“The folks at Fidelity Bank and First National Bank of Byers share the same core values and service culture,” said Joe Parker, Jr., Chairman and CEO of FNB Byers, “and we believe this partnership will result in a win-win situation for our employees, our customers and the communities we both serve.”
Fidelity Bank is a Wichita Falls-owned and independently operated institution that offers consumer and commercial banking products and services. It has two full-service locations in Wichita Falls and one in Burkburnett. Combined with FNB Byers, Fidelity Bank will have total assets in excess of $350 million and serve customers through six full-service locations in Clay and Wichita and counties.
Parker will serve on the Board of Directors for Fidelity Bank.
“This is an exciting time of growth for Fidelity Bank,” said Tommy McCulloch, president and CEO for Fidelity Bank, Wichita Falls, “and we are proud to be partnering with an outstanding bank that has a strong history in north Texas banking. We look forward to being part of the Byers and Henrietta communities.”