BRYAN/COLLEGE STATION, Texas--(BUSINESS WIRE)--American Momentum Bank today announced that the application filed with the Texas Department of Banking to become a Texas-chartered bank has been approved and that, effective immediately, American Momentum is a Texas-based institution.
American Momentum currently has three banking centers in Bryan/College Station and 17 banking centers in Florida. Today’s announcement will have no effect on clients, as the bank’s Texas and Florida clients continue to be served just as before.
“With a Texas charter, we’ll have a real advantage as we look for merger opportunities that allow us to expand our high-touch banking philosophy to more regions of the state,” said Donald A. Adam, Chairman and CEO of American Momentum. “We’re building a ‘super-community bank’ based on strong capital levels, a client focused business model and premier technology. We look forward to the day when even more Texans bank with American Momentum.”
Bank President Sam A. Davis pointed out that “American Momentum’s seasoned professionals understand the value of client service, responsiveness and relationship based banking. They want to see their clients achieve their financial goals, so our bankers provide the right products and services tailored to our clients’ unique needs.”
Davis also re-confirmed the importance of the bank’s Florida markets. “We already serve some of the largest growth markets in Florida, and that strategy will continue. As we deepen client relationships we have and attract new ones, we continue to look for the right merger partners so our service-based client promise reaches even more Florida communities.”
American Momentum Bank, which had total assets of $1.0 billion at September 30, 2013, provides comprehensive products and services for businesses and individuals. The Bank has 17 banking centers in Florida, including Orlando, Tampa, Clearwater, St. Petersburg, Sarasota, Lakewood Ranch, Naples and Winter Garden. It also has three full-service Texas banking centers in Bryan/College Station and a loan production office in Dallas. American Momentum’s Tier 1 Capital Leverage Ratio of 16.8% at September 30, 2013, positions it as well-capitalized for regulatory purposes and one of the strongest, most secure banks in the United States. Additional information about American Momentum Bank is available at www.americanmomentumbank.com.