Inspired by a commitment to community banks and the role they play supporting small businesses, BAT Investments, Inc. has reached an agreement to acquire Capital Bank of Texas (CBOT), headquartered in Carrizo Springs, Texas.
BAT Investments was founded by entrepreneurs and long-time bankers Bobby Priestley and Tanya Miller, who plan to expand the bank’s reach by opening a new branch in Austin. Priestley and Miller are backed by a board of directors composed of civic leaders, business owners and financial services professionals. They include George “Hal” Davis, Jr., Mark Mangum, Kevin Hunter, Delores Crum, Mohammed Ali and Fred C. Allen, Jr.
“Community banks are the heartbeat of small businesses,” co-founder Tanya Miller said. As President and Chief Risk Officer, Miller will be instrumental in forging the bank’s future and relationships with its customers. “Community bankers personally get to know their customers and tailor products and services that align with the needs of the community,” she said. “The ability to make local, individualized, and timely decisions for our customers is what sets community banks apart from large financial institutions.”
With branches in Carrizo Springs and Crystal City and a loan production office in Austin, Capital Bank of Texas will be an optimal foundation to launch the company’s future plans. The bank currently has assets of approximately $84 million.
Co-founder Bobby Priestley will serve as the bank’s Chairman and CEO. “Banking should be all about relationships,” he said. “By serving the Austin community in our careers, we’ve developed strong relationships that we will be able to carry forward. Additionally, the growing and robust Austin market creates endless opportunities for new client relationships.”
As the bank expands its Austin footprint, it will remain dedicated to the communities where Capital Bank of Texas was founded. “CBOT has provided quality financial services and faithfully supported the communities of Carrizo Springs and Crystal City over the years,” Miller said. “We look forward to continuing their legacy.”
The acquisition, which is subject to regulatory approval, is expected to be completed this summer.