Guaranty Bancshares, Inc. signed a definitive agreement to acquire DCB Financial Corporation (Dallas, TX).
January 07, 2015 at 11:00 pm EST
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Guaranty Bancshares, Inc. signed a definitive agreement to acquire DCB Financial Corporation (Dallas, TX) on January 8, 2015. DCB Financial Corporation (Dallas, TX) has total assets of $119 million, total deposits of $93 million, and total equity of $23 million as of December 31, 2014. DCB Financial's employees will join Guaranty's team. Chuck Cowell, President and Chief Executive Officer of DCB Financial, will serve as Chairman of the Dallas market for Guaranty. The deal is subject to customary closing conditions, including the receipt of required regulatory approvals. The deal has been approved by the Boards of Directors of Guaranty and DCB Financial and is expected to close in the first quarter of 2015. Sandler + O'Neill Partners, L.P. acted as financial advisor while Fenimore, Kay, Harrison & Ford, LLP acted as legal advisor for Guaranty. Norton Rose Fulbright acted as legal advisor while Sheshunoff & Co. Investment Banking provided fairness opinion to DCB Financial.
As of April 9, 2015, all former employees of Preston State Bank joined Guaranty's team. Chuck Cowell, President and Chief Executive Officer of Preston will serves as Chairman of the Dallas market for Guaranty.
Guaranty Bancshares, Inc. is a bank holding company of Guaranty Bank & Trust, N.A. (the Bank). The Bank provides a range of relationship-driven commercial and consumer banking, as well as trust and wealth management products and services that are tailored to meet the needs of small- and medium-sized businesses, professionals and individuals. Its lending activities provide a range of loans, including commercial lines of credit, working capital loans, commercial real estate-backed loans, term loans, equipment financing, acquisition, expansion and development loans, borrowing base loans, real estate construction loans, homebuilder loans, letters of credit and other loan products. It also offers various consumer loans to individuals and professionals, including residential real estate loans, home equity loans, installment loans, unsecured and secured personal lines of credit, and standby letters of credit. The Bank operates 33 full-service banking locations.