Pinnacle Bank acquires Crockett National Bank
Todd Huckabee, CEO of Crockett National Bank, and Sid Dinsdale, Chairman of Pinnacle Bancorp, announced the signing of an agreement for Pinnacle Bank to acquire Crockett National Bank of San Antonio. Crockett National Bank has a total asset size of $630 million with five branches in Texas, including San Angelo and Ozona. In addition, they have two Loan Production Offices (LPOs) located in San Antonio and New Braunfels.
Crockett National Bank will become part of Pinnacle Bank’s 22-branch network in Texas.
“The people, hospitality and charm of the great state of Texas make it a wonderful place to do business. We appreciate this opportunity to welcome Crockett National Bank to the Pinnacle Bank family and expand our footprint in the state,” Dinsdale said.
All locations gained through the acquisition will continue operation under the Pinnacle Bank community banking philosophy of local management and local control, according to the release. At closing, Huckabee will become a regional president of Pinnacle Bank.
“Pinnacle Bank’s commitment to community and customer service aligns closely with the foundations that our banking philosophy has always been based on. We are happy to enter this partnership and continue service to our local area," Huckabee said.
The transaction is anticipated to close the second half of 2022, pending regulatory approval, according to the release. Financial details of the transaction were not disclosed.
Founded in 1938, Pinnacle Bancorp is a family‐owned $17.7 billion financial holding company operating 161 community banks in eight states, according to the release. For more information, visit pinnbanktx.com.
This article originally appeared on San Angelo Standard-Times: Pinnacle Bank acquires Crockett National Bank
