As Rio Grande Valley temperatures plunged with a blast of winter weather, members of the Harlingen business community huddled together under a tent for a groundbreaking ceremony to mark the start of construction of Texas Regional Bank’s corporate headquarters. Just a few days earlier the bank opened its newest Harlingen branch in a temporary building at Stuart Place Road and Expressway 83, right next door to where the new banking center will be built.
Texas Regional Bank’s history dates back to 2008 when business leaders Michael Scaief, Bobby Farris, Tudor Uhlhorn and Bill Elliff set out to create a regional banking franchise based in Harlingen. In Sept. 2009, Texas State Bankshares, Inc. was organized to serve as the bank’s holding company in anticipation of an acquisition.
In early 2010 board launched a capital campaign and in less than six weeks almost $24 million was raised from approximately 160 families in the Valley. Texas State Bankshares acquired Falfurrias State Bank in May 2010 and within 90 days the charter was relocated to Harlingen and the bank renamed to Texas Regional Bank.
Today Texas Regional Bank operates 13 banking centers in South Texas and the Hill Country with more than $80 million in equity and more than 500 shareholders across Texas. The bank employs some 225 employees throughout its reach.
At the Dec.6 groundbreaking, President and CEO Paul Moxley said the new banking center and corporate headquarters will stand as a modern symbol of Texas Regional Bank’s commitment to the communities it serves. He said the new building, to be constructed by SpawGlass, is expected to be completed within a year.