Natchitoches, LA – Grant Bancshares Inc., the parent holding company of BOM Bank, proudly announces the successful acquisition of nine American State Bank branches in Texas. This strategic expansion strengthens BOM Bank’s regional footprint and enhances its ability to deliver exceptional banking services to communities across Louisiana and Texas.
The newly acquired locations include branches in Haslam, Timpson, Center, Lufkin, Huntington, Chester, and Conroe. These branches will continue to provide the personalized service that customers have come to expect, ensuring a seamless transition. With this acquisition, BOM Bank now operates 26 branches and two operations facilities, solidifying its position as a trusted community bank in the region.
Ken Hale, President and CEO of BOM Bank, expressed his enthusiasm for the acquisition:
“We are thrilled to welcome the customers and employees of American State Bank into the BOM Bank family. This expansion aligns perfectly with our mission to provide accessible, community-focused banking solutions. We look forward to building lasting relationships with our new customers in Texas.”
Commitment to Community and Financial Inclusion
As a certified Community Development Financial Institution (CDFI), BOM Bank is dedicated to fostering economic growth and supporting underbanked communities. The bank offers innovative financial products such as its Credit Builder Program and a certified BankOn checking account, designed to promote financial inclusion and empower individuals and businesses.
This acquisition underscores BOM Bank’s commitment to boosting economic prosperity and improving the quality of life in the communities it serves. By expanding its reach, the bank continues to play a pivotal role in driving financial growth and providing tailored resources to meet diverse needs.
A Legacy of Trust and Growth
Founded in 1903 in Montgomery, Louisiana, BOM Bank has evolved from a local institution with $15,000 in capital to a community-focused bank with over $1 billion in assets. The bank offers a comprehensive suite of financial services, including banking, insurance, and investment opportunities through its subsidiary, BOM Financial Services.
“BOM Bank is committed to maintaining its legacy of trust and service while embracing opportunities for growth,” Hale added.
Advisory and Legal Support
The acquisition was supported by Fenimore Kay Harrison LLP, serving as legal counsel to BOM Bank, with Hillworth Bank Partners as the financial advisor. Hunton Andrews Kurth LLP served as legal counsel to American State Bank, while Piper Sandler provided financial advisory services.
For more information about BOM Bank and its expanded services, visit bofm.com or follow @bomest1903 on social media.
About BOM Bank
Established in 1903, BOM Bank has been a cornerstone of the Louisiana community for over a century. With a commitment to community engagement and employee development, BOM Bank offers a range of financial services tailored to meet the needs of its customers. Learn more at bofm.com.