Third Coast Bank SSB, a bank with over $2 billion in assets under management, has announced plans to open a branch in Fort Worth, Texas.
The Texas-based bank currently has locations in the Dallas and Plano markets and banking operations are conducted through 12 branches and one loan production office.
Bart Caraway, president and CEO of Third Coast Bank SSB, said: “We feel Third Coast Bank will be a great fit for the Cowtown area and we’ll be able to offer commercial and corporate lending solutions for the business community and surrounding areas.”
The bank operates primarily in the Great Houston, Dallas-Fort Worth, and Austin-San Antonio markets, encompassing the largest metropolitan areas in Texas.
“Our staff has a passion for this community, and we look forward to participating in all the charitable and other not-for-profits that make Fort Worth so special and a great place to live,” added Caraway.
The branch will be located in the Museum district near several shops and restaurants.
The expansion comes amid a spate of branch closures. In 2021, US banks closed a record 2,927 branches, a 38% rise compared to 2020 which saw 2,126 branch closures, according to S&P Global Market Intelligence data.
Wells Fargo reported the most net closures last year with 267, followed by US Bancorp who reported 257 net closures.
On a relative basis, Huntington Bancshares had the most net closures among banks with at least 1,000 branches as the Ohio-based regional closed 221 net branches, shrinking its footprint by more than 16%.
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