R Bank to open new Austin-area branch in 2015

Aug 6, 2014
Austin Business Journal

R Bank plans to open its fourth branch next year by converting a drive-through motor bank on SH 29 in Bertram


The office is scheduled to be completed in April 2015, according to a company statement


Last year, Round Rock-based R Bank reached an agreement to acquire the Farmers State Bank in Bertram for an undisclosed amount. The deal was completed in August 2013


R Bank already operates full-service branches in Round Rock, Georgetown and the Rollingwood section of Austin coupled with a loan production office in Edna


R Bank, founded in 2009 with $13.5 million, employed 29 workers and reports assets of $175 million last year. It now reports assets of $297 million and serves customers in Williamson, Travis and Burnet counties. It ranks No. 8 on the Austin Business Journal list of banks with Austin-area headquarters


In March, R Bank’s holding company, R Corp Financial, reported raising $13 million of a planned $14 million financing from 100 investors, according to a filing with the U.S. Securities and Exchange Commission


At the time, President and CEO Steve Stapp said the financing was completed to meet the higher capitalization guidelines required during the first seven years of a startup bank


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