Vista Bancshares, Inc. Completes Acquisition of Charis Holdings, Inc.
Vista Bank Dallas Corporate Headquarters
John D. Steinmetz, Vista Bank Chief Executive Officer
Since taking the helm, Steinmetz has ensured responsible, disciplined organic growth approaching 700% in the last decade.
A 2022 DCEO Financial Executive Award Nominee for Outstanding Public Service, 2021 DCEO Dallas 500 recipient, 2019 Dallas Business Journal (DBJ) Most-Admired CEO, 2018 honoree of the DBJ and Fort Worth Business Press 40 Under 40 programs, John’s leadership earned the Bank the multiple listings on the SMU Cox School of Business Dallas 100, and Dallas Business Journal’s Middle-Market 50 list. Steinmetz is a member of the Young Professionals Organization (YPO), the Dallas Museum of Art’s Budget & Finance Committee, and serves on the Dallas Citizens Council’s Board of Directors.
Dallas, Texas, April 03, 2023 (GLOBE NEWSWIRE) — Within 61 days of filing the definitive agreement, Vista Bancshares, Inc. (“Vista”), the holding company for Vista Bank, received regulatory approval to acquire Charis Holdings, Inc. (“Charis”) and its subsidiary, Charis Bank. Today Vista Bank announced that it has officially closed that transaction.
Charis’ robust core deposit base, high-growth market locations, talented workforce, and community-leading investors expand Vista Bank’s footprint and lending ability while maintaining the Bank’s commitment to responsible growth and strategic M&A.
The transaction creates a combined community banking franchise with approximately $1.9 billion in assets, $1.6 billion in deposits, and $1.4 billion in gross loans. The combined companies will have 193 total employees and 16 Banking Center locations throughout Texas.
Already named one of North Texas’ top commercial lenders, scaling Vista empowers the Entrepreneurs’ Bank to serve even more small and middle-market companies statewide.
“The closing of this transaction brings together two top-tier North Texas-headquartered banks,” said John D. Steinmetz, Vista Bank Chief Executive Officer. “Both Banks have century-old legacies of navigating the Great Depression, two World Wars, the Great Recession, and the recent pandemic. I’m confident with our combined diverse asset portfolio, strategic investment strategy, and institutional knowledge, we are well-positioned for continued responsible, organic growth. That said, we remain open to additional M&A opportunities as our board and boards around the state seek to create value for their shareholders.”
The conversion of the Charis Family of Banks’ systems and accounts is scheduled for later this year. Charis’ clients will now have access to all 16 Vista Bank Banking Center locations throughout Texas, and Vista Bank will update all Charis clients with information regarding the conversion of their accounts in the coming months.
About Vista Bank
Best known as the Entrepreneurs’ Bank, Vista Bank serves North, Central, and West Texas markets through its 16 Banking Center locations and emerging digital presence. With 193 team members, approximately $1.9 billion in assets, and a rich 111-year history of “Entrepreneurs Banking Entrepreneurs,” Vista operates more like a start-up than a traditional bank, offering innovative solutions to personal and commercial clients while never sacrificing the top priority – putting People First. Learn more about Vista Bank, consistently recognized regionally and nationally as a top-rated financial institution, leading commercial Bank, best workplace, best leadership team, and best in customer service.
Attachments
CONTACT: Cathy Landtroop Vista Bank media@vistabank.com Matt Willis Vista Bank investorrelations@vistabank.com
