Green Bank has finished buying the Dallas branch of the former La Jolla Bank, which is now OneWest Bank. Financial terms were not announced. Houston-based Green Bank is a unit of Green Bancorp., which is backed by Friedman Fleischer & Lowe LLC, Harvest Partners LP and Pine Brook Road Partners LLC. La Jolla Bank, of California, was closed by the Office of Thrift Supervision in February.
Green Bank, N.A., has completed the previously announced acquisition of the Dallas branch of the former La Jolla Bank from OneWest Bank, FSB. In February, California-based La Jolla Bank, FSB was closed by the Office of Thrift Supervision and the FDIC was appointed as its receiver. The deposits and certain assets of La Jolla Bank were assumed by OneWest Bank, of Pasadena, Ca. In July, OneWest Bank and Green Bank entered into a purchase and assumption agreement for deposits and certain assets.
The bank’s staff, location and business hours remain unchanged–4029 Northwest Parkway; Dallas, TX 75225; Monday – Thursday, 9 am to 4 pm; and open Friday to 5 pm. The phone number for the Dallas Preston Center office will be (972) 528-6720.
“Along with the private banking office acquisition, Green Bank is building a Dallas commercial lending division,” said Bart Bearden, Dallas market president. “We’re a full service bank that can meet multiple needs across the market. We are focused on serving the former La Jolla clients, growing private banking operations and increasing mortgage lending. Concurrently, commercial operations are expanding with loans, lines of credit and owner-occupied real estate loans in the $1 to $15 million dollar range.”
In late June Green Bancorp, Inc., the holding company for Green Bank, N.A., completed a $100 million equity capital raise transaction. The bank is actively searching for growth opportunities in major Texas markets.
“We are pleased to close our first acquisition so soon after completing the initial capital raise,” said Green Bank President Geoff Greenwade. “The bank is actively evaluating proposals and continues to build off the momentum created by this transaction. Bank consolidation will be healthy for Texas banking; we are proud to be in a leading role. ”
Over the last few weeks, OneWest Bank and Green Bank worked together to develop a process for the transfer of accounts and services. The final steps were completed this past weekend with nominal service interruptions. Green Bank offers our customers a simplified account structure, no-cost online banking and no-fee ATM withdrawals.
“We focused on communications to keep everyone connected during the transition. Besides sending mailers, we talked about the changes with clients when they came to our office,” said Thomas Ellsworth, branch manager. “It went smoothly—account choices changed, new debit cards and check books were issued and balances transferred. We are now working with our clients to set-up online banking accounts and other automated tools.”
About Green Bank
Green Bank, N.A. is a wholly owned subsidiary of Green Bancorp, Inc. Headquartered in Houston, the bank focuses on the commercial and private banking needs of middle market businesses and individuals with innovative products and personal attention.
Green Bank is committed to streamlining processes, preserving resources and performing to a higher standard. Green Bank employees are empowered to work toward long-term goals and make sound lending and investment decisions.
Green Bank, N.A. is a federally chartered bank regulated by the Office of the Comptroller of the Currency, a division of the Department of the Treasury of the United States. www.greenbank.com