Susser Bank Holdings LLC Has Acquired a Majority Stake in Affiliated Bank NA
Susser Bank Holdings LLC (“SBH”) announced today its acquisition of approximately 66% of the common shares of BancAffiliated, Inc. (“Affiliated”) and its wholly owned subsidiary, Affiliated Bank, N.A. The investment in Affiliated provides a source of capital to accelerate its long-term growth and diversification strategy, designed to benefit the Bank as well as its customers, employees and shareholders.
Commerce Street Capital, LLC acted as financial advisor to Affiliated. Luse Gorman, PC acted as legal advisor to Affiliated. Alston & Bird acted as legal advisor to SBH.
Susser Bank Holdings LLC
SBH is a bank holding company based in Corpus Christi, Texas, led by Sam L. Susser. The Susser family has several generations of experience with owning, operating and growing customer-centric businesses, and has a track record of building strong teams and creating long-term value for shareholders.
BancAffiliated is the holding company of Affiliated Bank, N.A., a $671 million national bank originally established in 1959 as a credit union. The Bank operates from its headquarters in Arlington, Texas, and has four full-service branches (Arlington, Bedford, Garland and Round Rock), seven mortgage locations (Arlington, Brownwood, Dallas, Ft. Worth, Frisco, Round Rock and Waco) and one dedicated SBA office in Plano. The Bank offers a variety of SBA, mortgage, business and consumer loans as well as business treasury management services and personal banking services.