One America Bancorp Inc. (“One America”), a newly formed bank holding company, announced that it has acquired Hopeton State Bank, a $26 million institution based in Woods County, Oklahoma. The acquisition marks the first major step in One America’s strategy to build a high-performing community bank focused on serving rural communities in Oklahoma while establishing a commercial banking presence in Dallas.
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The transaction is led by Dallas businessman Bruce Ware, One America’s largest investor who will provide active leadership, serving as its Executive Chairman and CEO. Trent Goss, Hopeton State Bank’s President, will remain in his current role. In addition to his own personal investment, Ware assembled a group of successful investors across multiple industries from his network of relationships who are committed to revitalizing community banking in markets that are often underserved by large institutions. In addition to purchasing Hopeton State Bank, the group is injecting capital to expand its lending capacity and deepen its commitment to small businesses, agricultural borrowers, and working families in Woods County, Oklahoma.
At the same time, One America is laying the foundation for long-term growth in Texas. One America’s plans include establishing a presence in Dallas, which will serve as a platform for commercial banking relationships in the Dallas Fort Worth metroplex.
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“This is a two-pronged strategy,” said Ware. “We see tremendous opportunity both in rural Oklahoma—where strong bankOne America Bancorp Acquires Hopeton State Banks still play a vital role in economic life and in the vibrant commercial corridors of North Texas, which remains one of the fastest growing MSAs in the country. One America Bancorp is built to do both and expand on Hopeton State Bank’s 106-year-old legacy.”
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The transaction received all required regulatory approvals. One America was advised by Denver-based law firm Otteson Shapiro LLP and Eide Bailly LLP for tax and financial matters.
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Source: PR newswire