{"id":412132,"date":"2021-01-11T09:03:56","date_gmt":"2021-01-11T14:03:56","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=412132"},"modified":"2021-01-11T09:03:56","modified_gmt":"2021-01-11T14:03:56","slug":"spirit-of-texas-bancshares-inc-completes-sale-of-jacksboro-branch-location","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/spirit-of-texas-bancshares-inc-completes-sale-of-jacksboro-branch-location\/","title":{"rendered":"Spirit Of Texas Bancshares, Inc. Completes Sale Of Jacksboro Branch Location"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">CONROE, Texas<\/span>, <span class=\"xn-chron\">Jan. 11, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Spirit of Texas Bancshares, Inc. (NASDAQ: STXB) (&#8220;Spirit&#8221;), the holding company for Spirit of Texas Bank (the &#8220;Bank&#8221;), today announced that on <span class=\"xn-chron\">January 8, 2021<\/span>, the Bank completed the previously announced sale of its <span class=\"xn-location\">Jacksboro, Texas<\/span> branch location to First State Bank (&#8220;FSB&#8221;) of <span class=\"xn-location\">Graham, Texas<\/span>. Under the terms of the transaction, the Bank sold loans of approximately <span class=\"xn-money\">$3<\/span>.5\u00a0million, deposits of approximately <span class=\"xn-money\">$5<\/span>.7\u00a0million and the real property on which the branch was located.<\/p>\n<p>\n        <span class=\"xn-person\">Dean Bass<\/span>, Spirit&#8217;s Chairman and Chief Executive Officer, stated, &#8220;We are pleased to have partnered with First State Bank, a bank that shares a similar mission to Spirit \u2013 consistently focusing on the well-being of the community. This common foundation and alignment of core values should make for a seamless transition and benefit the <span class=\"xn-location\">Jacksboro<\/span> community, clients and employees.&#8221; <\/p>\n<p>\n        <b>About Spirit of Texas Bancshares, Inc.<\/b>\n      <\/p>\n<p>Spirit, through its wholly-owned subsidiary, Spirit of Texas Bank, provides a wide range of relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Spirit of Texas Bank has 38 locations in the <span class=\"xn-location\">Houston<\/span>, <span class=\"xn-location\">Dallas\/Fort Worth<\/span>, <span class=\"xn-location\">Bryan\/College Station<\/span>, <span class=\"xn-location\">Austin<\/span>, <span class=\"xn-location\">San Antonio<\/span>, <span class=\"xn-location\">Corpus Christi<\/span> and <span class=\"xn-location\">Tyler<\/span> metropolitan areas, along with offices in <span class=\"xn-location\">North Central<\/span> and South Texas.\u00a0Please visit\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3032962-1&amp;h=4255784018&amp;u=http%3A%2F%2Fwww.sotb.com%2F&amp;a=www.sotb.com\" rel=\"nofollow noopener noreferrer\">www.sotb.com<\/a> for more information.<\/p>\n<p>\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p>This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements anticipated in such statements. Forward-looking statements speak only as of the date they are made and, except as required by law, we do not assume any duty to update forward-looking statements. Such forward-looking statements include, but are not limited to, statements concerning such things as our plans, objectives, strategies, expectations and intentions and other statements that are not statements of historical fact, and may be identified by words such as &#8220;anticipates,&#8221; &#8220;believes,&#8221; &#8220;could,&#8221; &#8220;estimates,&#8221; &#8220;expects,&#8221; &#8220;forecasts,&#8221; &#8220;goal,&#8221; &#8220;intends,&#8221; &#8220;may,&#8221; &#8220;might,&#8221; &#8220;plan,&#8221; &#8220;probable,&#8221; &#8220;projects,&#8221; &#8220;seeks,&#8221; &#8220;should,&#8221; &#8220;target,&#8221; &#8220;view&#8221; or &#8220;would&#8221; or the negative of these words and phrases or similar words or phrases.\u00a0Factors that could cause our actual results to differ materially from those described in the forward-looking statements include, among others: (i) changes in general business, industry or economic conditions, or competition\u037e (ii) the impact of the COVID-19 pandemic on the Bank&#8217;s business, including the impact of actions taken by governmental and regulatory authorities in response to such pandemic, such as the Coronavirus Aid, Relief, and Economic Security Act and the programs established thereunder, and the Bank&#8217;s participation in such programs, (iii) changes in any applicable law, rule, regulation, policy, guideline, or practice governing or affecting bank holding companies and their subsidiaries or with respect to tax or accounting principles or otherwise\u037e (iv) adverse changes or conditions in capital and financial markets\u037e (v) changes in interest rates\u037e (vi) the possibility that any of the anticipated benefits of the <span class=\"xn-location\">Jacksboro<\/span> Branch Sale will not be realized or will not be realized within the expected time period\u037e (vii) the risk that converting the operations of the <span class=\"xn-location\">Jacksboro<\/span> Branch to First State Bank will be materially delayed or will be more difficult than expected\u037e (viii) the inability to realize expected cost savings or achieve other anticipated benefits in connection with business combinations and other acquisitions\u037e (ix) changes in the quality or composition of our loan and investment portfolios\u037e (x) adequacy of loan loss reserves\u037e (xi) loss of certain key officers\u037e (xii) continued relationships with major customers\u037e (xiii) deposit attrition\u037e (xiv) rapidly changing technology\u037e (xv) unanticipated regulatory or judicial proceedings and liabilities and other costs\u037e (xvi) changes in the cost of funds, demand for loan products, or demand for financial services\u037e (xvii) other economic, competitive, governmental, or technological factors affecting our operations, markets, products, services, and prices\u037e and (xviii) our success at managing the foregoing items. For a discussion of additional factors that could cause our actual results to differ materially from those described in the forward-looking statements, please see the risk factors discussed in our most recent Annual Report on Form\u00a010-K\u00a0and other reports that are filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement.<\/p>\n<div>\n<table id=\"convertedTablea9ec\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contacts: <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <u>Dennard Lascar Investor Relations<\/u><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ken Dennard \/ Natalie Hairston<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(713) 529-6600 <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <a target=\"_blank\" href=\"mailto:STXB@dennardlascar.com\" class=\"prnews_a\" rel=\"nofollow noopener noreferrer\">STXB@dennardlascar.com<\/a><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA44321&amp;sd=2021-01-11\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/spirit-of-texas-bancshares-inc-completes-sale-of-jacksboro-branch-location-301205255.html\">http:\/\/www.prnewswire.com\/news-releases\/spirit-of-texas-bancshares-inc-completes-sale-of-jacksboro-branch-location-301205255.html<\/a><\/p>\n<p>SOURCE  Spirit of Texas Bancshares, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DA44321&amp;Transmission_Id=202101110900PR_NEWS_USPR_____DA44321&amp;DateId=20210111\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire CONROE, Texas, Jan. 11, 2021 \/PRNewswire\/ &#8212;\u00a0Spirit of Texas Bancshares, Inc. (NASDAQ: STXB) (&#8220;Spirit&#8221;), the holding company for Spirit of Texas Bank (the &#8220;Bank&#8221;), today announced that on January 8, 2021, the Bank completed the previously announced sale of its Jacksboro, Texas branch location to First State Bank (&#8220;FSB&#8221;) of Graham, Texas. Under the terms of the transaction, the Bank sold loans of approximately $3.5\u00a0million, deposits of approximately $5.7\u00a0million and the real property on which the branch was located. Dean Bass, Spirit&#8217;s Chairman and Chief Executive Officer, stated, &#8220;We are pleased to have partnered with First State Bank, a bank that shares a similar mission to Spirit \u2013 consistently focusing on the well-being of the community. This common &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/spirit-of-texas-bancshares-inc-completes-sale-of-jacksboro-branch-location\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Spirit Of Texas Bancshares, Inc. Completes Sale Of Jacksboro Branch Location&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-412132","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Spirit Of Texas Bancshares, Inc. Completes Sale Of Jacksboro Branch Location - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/spirit-of-texas-bancshares-inc-completes-sale-of-jacksboro-branch-location\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spirit Of Texas Bancshares, Inc. Completes Sale Of Jacksboro Branch Location - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire CONROE, Texas, Jan. 11, 2021 \/PRNewswire\/ &#8212;\u00a0Spirit of Texas Bancshares, Inc. (NASDAQ: STXB) (&#8220;Spirit&#8221;), the holding company for Spirit of Texas Bank (the &#8220;Bank&#8221;), today announced that on January 8, 2021, the Bank completed the previously announced sale of its Jacksboro, Texas branch location to First State Bank (&#8220;FSB&#8221;) of Graham, Texas. Under the terms of the transaction, the Bank sold loans of approximately $3.5\u00a0million, deposits of approximately $5.7\u00a0million and the real property on which the branch was located. Dean Bass, Spirit&#8217;s Chairman and Chief Executive Officer, stated, &#8220;We are pleased to have partnered with First State Bank, a bank that shares a similar mission to Spirit \u2013 consistently focusing on the well-being of the community. This common &hellip; Continue reading &quot;Spirit Of Texas Bancshares, Inc. 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Under the terms of the transaction, the Bank sold loans of approximately $3.5\u00a0million, deposits of approximately $5.7\u00a0million and the real property on which the branch was located. Dean Bass, Spirit&#8217;s Chairman and Chief Executive Officer, stated, &#8220;We are pleased to have partnered with First State Bank, a bank that shares a similar mission to Spirit \u2013 consistently focusing on the well-being of the community. This common &hellip; Continue reading \"Spirit Of Texas Bancshares, Inc. Completes Sale Of Jacksboro Branch Location\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/spirit-of-texas-bancshares-inc-completes-sale-of-jacksboro-branch-location\/","og_site_name":"Market Newsdesk","article_published_time":"2021-01-11T14:03:56+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA44321&amp;sd=2021-01-11","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/spirit-of-texas-bancshares-inc-completes-sale-of-jacksboro-branch-location\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/spirit-of-texas-bancshares-inc-completes-sale-of-jacksboro-branch-location\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Spirit Of Texas Bancshares, Inc. 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