Triumph to acquire National Bancshares


Share
Originally Posted Online: April 24, 2013, 7:36 pm
Last Updated: April 24, 2013, 8:08 pm
Comment on this story | Print this story | Email this story

Triumph Bancorp Inc., parent of Texas-based Triumph Savings Bank, SSB, has signed a agreement to acquire National Bancshares Inc., parent of THE National Bank, headquartered in Bettendorf.

National Bancshares is a $945 million bank holding company. Its community banking subsidiary, THE National Bank, offers personal checking accounts, savings accounts, CDs, money market, business accounts, as well as consumer, commercial and mortgage loans from 19 branches and three loan production offices in Iowa, Illinois and Wisconsin.

"By partnering with Triumph we will be able to offer our customers expanded products currently not offered by THE National Bank, including equipment leasing, factoring and asset-based lending," John D. DeDoncker, president and CEO of THE National Bank, said, adding that the bank "will operate as a stand-alone subsidiary of Triumph and will continue to support local economic and civic development."

The agreement provides for Triumph Bancorp Inc. to acquire National Bancshares Inc., resulting in $1.2 billion in total assets and pro forma capital of more than $150 million for the combined organization.

The agreement is subject to customary closing conditions and regulatory approval and is expected to close in the third quarter of 2013.

Triumph Bancorp Inc. is a financial holding company with interests in wholesale banking, commercial finance and investment management.






















 



Local events heading








  Today is Monday, Oct. 20, the 293rd day of 2014. There are 72 days left in the year.

1864 -- 150 years ago: The store of Devoe and Crampton was entered and robbed of about $500 worth of gold pens and pocket cutlery last night.
1889 -- 125 years ago: Michael Malloy was named president of the Tri-City Stone Cutters Union.
1914 -- 100 years ago: Dewitte C. Poole, former Moline newspaperman serving as vice consul general for the United States government in Paris, declared in a letter to friends that the once gay Paris is a city of sadness and desolation.
1939 -- 75 years ago: Plans for the construction of an $80,000 wholesale bakery at 2011 4th Ave. were announced by Harry and Nick Coin, of Rock Island. It is to be known as the Banquet Bakery.
1964 -- 50 years ago: An application has been filed for a state permit to organize a savings and loan association in Moline, it was announced. The applicants are Ben Butterworth, A.B. Lundahl, C. Richard Evans, John Harris, George Crampton and William Getz, all of Moline, Charles Roberts, Rock Island, and Charles Johnson, of Hampton.
1989 -- 25 years ago: Indian summer is quickly disappearing as temperatures slide into the 40s and 50s this week. Last week, highs were in the 80s.


(More History)