MOUNT PLEASANT, Texas--(BUSINESS WIRE)--Guaranty Bancshares, Inc., parent company of Guaranty Bank & Trust (Guaranty), today announced that Guaranty has entered into an agreement to acquire a full-service location at 3101 Wind River Lane in Denton, Texas from Independent Bank.
Independent Bank has operated the full-service banking location since 2010. As a part of this transaction, Guaranty will assume certain deposits and acquire all of the fixed assets of that location.
Guaranty Chief Executive Officer Ty Abston said, "Denton represents a great market for Guaranty. We are excited about this opportunity to enlarge our banking footprint so soon after initially announcing our expansion to Denton. We have a great team in place to lead our efforts and introduce Guaranty’s banking model to the community.”
Jeremy Fykes joined Guaranty in December 2015, after serving the financial needs of Denton County residents and businesses since 2001 at another financial institution. Now President of the Denton market, Fykes stated, “This second location improves our ability to serve our customer's banking needs in Denton.” Debbie Irby, Senior Vice President, will manage the Wind River location. Irby joined Guaranty in August 2015.
The transaction, approved by the Boards of Directors of both companies, is expected to close during the second quarter of 2016. It is also subject to customary regulatory approvals.
Guaranty opened its first Denton location on May 2 at 1100 Dallas Drive, Suite 100. With the Wind River location, Guaranty further extends its presence in the DFW market, adding to Guaranty’s banking footprint in the East Texas and Central Texas regions. Including this latest acquisition, Guaranty has established six banking locations in the DFW market in the past twelve months.
About Guaranty Bancshares, Inc.
Guaranty Bancshares, Inc., is the holding company for Guaranty Bank & Trust, a $1.7 billion asset community banking organization with a 100-year history of strength and stability, with a proven track record of success in serving its customers and shareholders. As one of the oldest and most respected regional community banks in Texas, Guaranty provides its customers with a full array of relationship-driven commercial and consumer banking services, as well as mortgage, trust, and wealth management products and services that are tailored to meet the needs of small and medium-sized businesses, professionals, and individuals. Guaranty has 25 bank locations across 18 Texas markets. Additional information about Guaranty Bank & Trust and its full line of products and services can be found at www.gnty.com.
