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 Wednesday, April 23, the 113th day of 2014. There are 252 days left in the year.

1864 — 150 years ago: Some persons are negotiating for 80 feet of ground on Illinois Street with a view of erecting four stores thereon. It would serve a better purpose if the money was invested in neat tenement houses.
1889 — 125 years ago: The Central station, car house and stables of the Moline-Rock Island Horse Railway line of the Holmes syndicate, together with 15 cars and 42 head of horses, were destroyed by fire. The loss was at $15,000.
1914 — 100 years ago: Vera Cruz, Mexico, after a day and night of resistance to American forces, gradually ceased opposition. The American forces took complete control of the city.
1939 — 75 years ago: Dr. R. Bruce Collins was reelected for a second term as president of the Lower Rock Island County Tuberculosis Association.
1964 — 50 years ago: Work is scheduled to begin this summer on construction of a new men's residence complex and an addition to the dining facilities at Westerlin Hall at Augustana College.
1989 — 25 years ago: Special Olympics competitors were triple winners at Rock Island High School Saturday. The participants vanquished the rain that fell during the competition, and some won their events; but most important, they triumphed over their own disabilities.




(More History)