Group Buys Texas Bank With Dallas Expansion In Mind

A group of bankers have banded together to buy First National Bank of Chillicothe in Texas and will use it to open a branch just outside of Dallas.

On Tuesday, Rockwall Bancshares Inc. said it would acquire the $46 million-asset First National Bank for an undisclosed amount. Rockwall said it plans to leave current management in place and would not change day-to-day operations.

Instead, the company plans to open a branch in Rockwall that will be branded Victory Bank. That branch is expected to open early next year.