Captex Bancshares Announces Definitive Acquisition Agreement with Trenton Bankshares

DALLAS - Sept. 8, 2016 - PRLog -- Captex Bancshares, Inc. ("Captex") announced today the signing of a definitive acquisition agreement with Trenton Bankshares, Inc. ("Trenton"), the parent holding company of The First National Bank of Trenton (https://www.fnbtrenton.bank/) ("Trenton Bank"), headquartered in Trenton, Texas, whereby Captex will acquire all outstanding shares of the capital stock of Trenton and Trenton Bank.

Trenton Bank operates five (5) banking offices in north Texas, including its main office in Trenton, along with banking centers in Melissa, Texas, Bonham, Texas, Farmersville, Texas and Leonard, Texas.  As of June 30, 2016, Trenton, on a consolidated basis, reported total assets of $165.4 million, total loans of $97.8 million and total deposits of $135.1 million.

Captex is a bank holding company in formation, led by longtime Texas bankers George Lea, of College Station, Texas and Michael R. Thomas Jr., of Fort Worth, Texas.  Upon closing of the transaction, anticipated in the first quarter of 2017, Captex will be headquartered in Trenton, Texas and Trenton Bank will continue operations in all of its locations.  Captex anticipates adding a banking center in Fort Worth, Texas within one year of closing the transaction.

The Captex Board of Directors will be composed of senior business leaders from around Texas.  Key Board members will include Tony Schell, a partner with Escalate Capital Partners; Mark A. Welsh IV, a Managing Director with EnCap Investments; and Jim Cone, Manager at Cone Elevator of Lubbock, Texas and a former Executive Vice President of Horizon Bank in Austin.  Mark Welsh and George Lea spent the years 2002-2006 together at Adam Corporation and First American Bank, prior to that bank's sale in 2005. Further, longtime North Texas bankers Lewis W. Donaghey, currently Chairman of the Trenton Board of Directors, and Lew Donaghey, Trenton and Trenton Bank's current CEO, will both continue as Trenton Bank Board members, and Lew Donaghey will continue on the Trenton Bank management team.

"It has been a pleasure getting to know the Donagheys and the folks at Trenton over the past several months," said George Lea, the CEO of Captex.  "We have great respect for the hundred-year plus history of this Bank's service to North Texas communities.  We will build on this foundation and create the next great Texas community bank."

"There is tremendous opportunity for a well-capitalized and service-oriented community bank along the dynamic 'Highway 121 Corridor' from Bonham to Fort Worth," said Michael R. Thomas Jr., the President of Captex.  "We are building a team of bankers and investors from all over Texas to focus on this important region as well as other opportunities that present themselves in compelling markets around Texas."

"As we evaluated prospective partners, George and Mike stood out for their commitment to community banking and the communities we serve here in North Texas," said Lewis W. Donaghey, Trenton's Chairman.  "They have great track records of leadership and growth.  Our employees and our customers will be in good hands with this team."

"This is an opportunity for the Trenton Bank to remain independent and retain its character as a community institution," said Lew Donaghey, Trenton's current CEO.  "Joining with the Captex team will ensure we can continue to meet the expanding needs of our customer base while maintaining strong commitments to the markets we serve."

The acquisition has been unanimously approved by the Trenton Board of Directors, and is expected to close during the first quarter of 2017, although delays may occur. The transaction is subject to certain conditions, including the approval by Trenton's shareholders and customary regulatory approvals.

Trenton was advised in this transaction by Commerce Street Capital, LLC of Dallas as financial advisor, and Strasburger & Price, LLP as legal counsel.  Fenimore, Kay, Harrison and Ford, LLP of Austin was legal counsel to Captex.