b'C o m m u n i t yAmerican Bank Acquired by ProsperityLeft: A new branch of Prosperity Bank, which will have over 300 loca-tions in Texas and Oklahoma following the acquisition; Top: American Bank Center name will drop from arena; Above/Left: John Zacek, Fastest growing bank in Texas takes over the Coastal BendsProsperity Bank South Texas Area Chairman; Above/Right: American most established local bank. What changes can be expected? Bank President Steven Raffaele will stay on under new ownership.Millionaire wool merchant Perry Doddridge and his part- main office of the former First Victoria National Bank,This merger is about growth without disruption. Amer-ners, Uriah Lott and A.M. Davis, formed Corpus Christiwhere he welcomed us to discuss the topic of the Amer- icanBanksCorpusChristimanagement,bankers,and National Bank in 1871, the citys first bank. The bankican Bank merger. First Victoria was a rather conserva- branch teams remain in place, continuing to serve our cli-thrived during the Pope Boom, and collapsed after thetive, healthy bank with deep local roots in 2013, whenents with the same dedication and care theyve come to Pope Bust, Doddridge left bankrupt after paying backwe were acquired by Prosperity, he continued. Originallyexpect, said Steven Raffaele, the current American Bank depositors 60 cents on the dollar. The last incarnation ofchartered in 1867 as Brownsons Bank, later changed topresident who will stay on as market chairman under Corpus Christi National Bank (CCNB) served the regionFirst Victoria National Bank, the naysayers predicted fail- Prosperity. By combining forces with Prosperity Bank, for a century, before being bought out by NationsBank,ure for the takeover of the cherished local institution. were enhancing our ability to serve clients with a broad-later Bank of America, in 1994. People said that our 53% market share in Victoria woulder range of products, services, and locations, he added, The abrupt and rather impersonal transition from a local,drop to the 30s, said Zacek, but we stayed tied to theWe remain deeply committed to the Coastal Bend and landmark institution, into a collection of branches of a gi- wagon and were at 54% today. Victoria is smaller andthe communities we serve. This merger strengthens that ant corporate bank based in North Carolina drove manywith that much market share, everyone was convincedcommitment, allowing us to invest even more in local re-CCNB customers into the arms of American Bank, thethat the changes would result in lost customers. Yet alllationships and initiatives.Corpus Christi-based institution that was founded by oil- that really changed was the name on the door. Every public-facing employee of American Bank will stay man and land developer George S. Hawn, in 1970. WithProsperity Bancshares Corporation was formed in 1983on or have a chance to stay, said John Zacek. We want to be the announcement this summer that American Bank wasfor the purchase of the Edna branch of Allied Bank, whichthe leading bank in the Corpus Christi market while main-being acquired by Houston-based Prosperity Bank, thewas in distress amid the Texas oil bust. The branch was thetaining our community banking tradition and reputation.greatest concern that customers of the former who areoriginal First National Bank of Edna, and proved to be theLike most community banks, American Bank is consid-not familiar with the buyer is whether they will lose thefirst step in a growth strategy for Prosperity Bank of pur- ered conservative in its lending practices, but under Pros-personal service from neighbors they know in the pro- chasing locally-established institutions, some in distressperity, loan officers will have access to more capital and cessand the answer seems to be a solid no. and most that are not, and then keeping and extendinghigher loan limits, including for the oil and gas industry. I started off 43 years ago on this floor in that office, andthose local roots, i.e. keeping the people. In the decadesIn 2013 when this happened to me, I thought it was the then that one, and now this one, said John Zacek, thesince,Prosperityhasmade30mergerandacquisitionend of the world, Zacek remembered, but as Prosperity South Texas Chairman for Prosperity Bank who startedtransactions in Texas and Oklahoma, and will have overBank, weve been able to do even more within the com-his banking career, and will almost certainly end it, in the300 branches after the American Bank deal is complete. munitylike youd expect from your hometown bank.56THECOASTALBENDMAGAZINE TheCoastalBend.com'