Patrons Holdings news release
Patrons Holdings, Inc., a newly formed corporation led by a Dallas-based group of investors announced that it has signed a definitive agreement to acquire Eden Financial Corporation, and its subsidiary banks, Texas Financial Bank and Amistad Bank. As part of the transaction, Patrons Holdings plans to inject additional capital into the subsidiary banks to continue to support the local community as well as supplement growth into the Dallas-Fort Worth market.
Patrons Holdings is led by President and Chief Executive Officer, Conner M. Price, a Dallas-based banking veteran with over a decade of experience leading and building commercial banking departments in the Dallas area. Mr. Price is joined by Chairman of the Board, Ned N. Fleming, III, a Founding Partner and the Managing Partner of SunTx Capital Partners, a leading Dallas-based private equity firm.
“We are excited to partner with the Eden Financial team,” said Conner Price, President and Chief Executive Officer of Patrons Holdings. “The teams at Texas Financial Bank and Amistad Bank have laid a fantastic foundation for Patrons Holdings to build upon. Patrons plans to invest in these organizations and maintain the distinct market flavor and autonomy that has contributed to the banks’ historical success. We hope to leverage the knowledge of our Patrons’ team to supplement legacy management, with the goal of ultimately expanding our product base, lending capacity and technology to enhance our ability to serve customers in each of the markets in which we operate.”
“We are confident that Patrons shares our commitment to our communities,” said Ben Stribling, Chairman, President and Chief Executive Officer of Eden Financial. “We look at this transaction as adding resources and products but otherwise maintaining our local executive management team. Personally, it has been a pleasure to know and work with the good people in these West Texas towns. Communities like these are the backbone of our State.”
As we celebrate our 20th anniversary of Amistad Bank in our Del Rio community, we continue to have our strong sense of fundamental community banking,” said Tony Hernandez, President and Chief Executive Officer of Amistad Bank. “I cannot express enough gratitude to Mr. Stribling and Eden Financial Corporation for the past 20 years. Mr. Stribling’s leadership, generosity and genuine desire to help build our community is second to none. We are very excited to be joined by the Patrons team and are confident that this will continue to enhance our bank’s commitment to the Del Rio community.”
Closing of the transaction, which is subject to regulatory approval, is expected in the fourth quarter of 2023.
