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Independent Bank to Align Retail Footprint

1185 Days ago

MCKINNEY, Texas, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Independent Bank announced plans today to rebalance its retail footprint by consolidating locations in Colorado and Texas. The proposed changes are expected to reduce overlap of brick and mortar operations, while keeping the organization well-positioned to support existing customers and future growth.

Affected branches include eight Colorado locations - Loveland (Eagle), Loveland (East), Greeley (W. 9th), Colorado Springs (Westside), Fort Collins (Timberline), Castle Rock (500 N. Wilcox), DTC - Englewood (Belleview), Littleton (Ken Caryl); and four in Texas - Shenandoah, Hurst, Colleyville, and Rowlett. All were acquired between April 2017 and January 2019 through Independent Bank Group’s acquisition strategy.

All impacted branches, with the exception of Castle Rock, will continue to serve customers through May 31, 2019. The Castle Rock (500 N. Wilcox) location will remain open until the fourth quarter of this year.

Independent Bank’s suite of convenience services, online banking and seasoned relationship experts are all expected to contribute to a seamless banking experience. Customers can expect the same exceptional service at any of the Bank’s 90-plus branches serving the Gulf Coast to the Rocky Mountains.

“By streamlining our presence, we increase our ability to give back and channel our resources,” explains Chairman and CEO David Brooks. “The belief that we have a responsibility to build strong, healthy communities is a natural extension of our corporate culture. The Bank will continue to deepen relationships, while being as efficient as possible in serving our customers.”

Independent Bank is sensitive to decisions that impact employees, and as such, will make every effort to transition those affected by the consolidation to other areas within the organization or offer additional resources to support them through this alignment.

Principled financial decisions are the bedrock of the Bank’s success. By adjusting its existing footprint, Independent Bank is executing on its plan to achieve cost saves and enhance shareholder value.

About Independent Bank Group

Independent Bank Group, through its wholly owned subsidiary, Independent Bank, provides a wide range of relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Independent Bank Group operates in four market regions located in the Dallas/Ft. Worth, Austin, and Houston, Texas and the Colorado Front Range areas.

Media Contact:

Peggy Smolen
Senior Vice President Marketing & Communications
(972) 562-9004
Source: Independent Bank Group, Inc.

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