Commitment to Community Banks Inspires Acquisition and Expansion
(Austin, TX) BAT Investments, Inc. has acquired Capital Bank of Texas (CBOT), headquartered in Carrizo Springs, TX, as part of an effort to expand and strengthen the role of community banks in the state.
Founded by entrepreneurs and long-time bankers Bobby Priestley and Tanya Miller, BAT Investments was backed by more than 180 local investors who contributed in excess of $28 million in capital. “The level of support we received is a testament to the enduring influence that community banks have on their local economies,” Miller said. “We’re looking forward to fulfilling the trust our investors have placed both in us and in the role of community banks.”
BAT Investments’ expansion plans include an Austin branch in early 2022. “It’s exciting to be a part of such a robust market,” said Miller, who will serve as President and Chief Risk Officer. “We’re looking forward to serving the small businesses and families of Central Texas.”
With the acquisition, Capital Bank of Texas assets are just over $100 million, which includes branches in Carrizo Springs and Crystal City, as well as a loan production office in Austin. Co-founder Bobby Priestley, who will serve as the bank’s Chairman and CEO, said existing customers should expect no interruptions in service. “The branches will remain open and the staff will continue to provide the quality service that customers are accustomed to receiving,” he said. “However, new product and service enhancements will be forthcoming.”
Priestley and Miller are backed by a board of directors composed of civic leaders, business owners and financial services professionals representing both the Central and South Texas markets. They include George “Hal” Davis, Jr., Mark Mangum, Kevin Hunter, Delores Crum, Mohammed Ali, Fred C. Allen, Jr., and Von Box.
BAT Investments entered into an agreement to purchase on Jan. 15, 2021, and the acquisition was finalized on Sept. 28, 2021. The transaction was represented by attorney Bruce Toppin III with Langley & Banack, Incorporated of San Antonio.
About BAT Investments, Inc.
Composed of principals Bobby Priestley and Tanya Miller, BAT Investments represents nearly four decades of banking and financial services experience. Founded with a mission to foster community banking and the small businesses it supports; BAT is dedicated to revitalizing the concept of local banks supporting local businesses.