Eagle Bank looks to capitalize on Williamson County's growth spurt

May 12, 2014
Austin Business Journal

Eagle Bank executives are opening a branch in Round Rock to expand the bank’s reach outside of Fayette and Lee counties, looking to capitalize on the fast growth of Williamson County


In early May, Eagle Bank, a division of Round Top State Bank, bought two acres at 2260 N. A.W. Grimes Blvd. in Round Rock. Round Top State Bank CEO Ronny Sacks said the decision to build the branch came after measuring the demand for business with a loan production office that opened in July 2013


“We wanted to get out and into another market,” he said. “Fortunately, the market is very vibrant. It’s just a good place to be in the banking business.”


The 4,300-square-foot branch, scheduled to be completed by Dec. 1, will initially employ six or eight employees. But it could grow to employ as many as 16 workers like five other Round Top State branches, Sacks said


Round Top State Bank, which was founded in 1912, reported deposits of $382.2 million and assets of $420.5 million in late 2013. The bank operates two branches in Fayette County, and two in Lee County, according to the Federal Deposit Insurance Corp. It now employs 65 workers, Sacks said


In 2011, it acquired a fifth branch when it bought Eagle Bank, a Jarrell, Texas, bank with assets of $22 million


The Eagle Bank expansion follows strong growth in Williamson County by another local bank, R Bank


R Bank was one of only three startup banks launched in Texas during 2009, in the midst of the global recession and turmoil in the nation’s banking industry. It launched with $13.5 million and now operates branches in Round Rock, Georgetown and the Rollingwood section of Austin. It employed 29 workers and reports assets of $175 million last year


In April 2013, R Bank reached an agreement to acquire the Farmers State Bank in Bertram for an undisclosed amount. The deal was completed in August 2013


It now claims No. 22 market share of deposits in Central Texas with 0.55 percent, according to the FDIC


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