BTH Bank
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Formerly called | BankTexas |
|---|---|
| Headquarters | Quitman, Texas |
Area served | East Texas |
| Website |
www |
BTH Bank is a community-based financial institution domiciled in the East Texas town of Quitman. As of February 2016, total assets were $915 million and deposits were $793 million. [1]
History
BTH Bank was formed in the 1890s, converted to a state-chartered bank in 1905 and then to a national-chartered bank in 1914 (taking the name The First National Bank of Quitman.[2]). BTH Bank was also previously known as BankTexas.
In 2006, seven members of the bank's board of directors raised approximately $13 million from local investors to form BT Holdings, which purchased BankTexas from its then non-local owners. The transaction allowed BTH Bank to once again become a locally-owned financial institution.[3]
On January 16, 2013, BTH Bank embarked on a new business model. The first steps included adding additional leadership talent and conducting an equity raise to elevate the capitalization of the bank. That equity raise resulted in approximately 182 new shareholders investing a total of $42 million in the bank. With an extensive and diverse shareholder base of nearly 600 owners, BTH Bank is one of the few true community banks in East Texas.
BTH Bank currently has twelve bank locations in Quitman, Longview, Tyler, Mineola, Lindale, Winnsboro, Kilgore, Holly Lake Ranch, Carthage, Dallas, Plano, and Henderson.