In a bid to refocus its efforts on Texas, the parent company of Houston-based Southwestern National Bank will sell the deposits and branches of a Nevada-based sister bank, CEO Gary Owens told me Thursday. After the Dodd-Frank Act of 2010, sister banks residing in different states have been able to shed separate state charters and operate using a single charter, a cost-saving move that cuts administrative expenses, said Dan Bass, Houston managing partner for Performance Trust Capital Partners.
Southwest National Bank to buy loans, sell deposits of Nevada sister bank
April 18, 2013