Green Bank NA, Houston, plans to expand its lending operations in North Texas through its proposed acquisition of the Dallas branch of La Jolla Bank from its current owner, OneWest Bank FSB, Pasadena, Calif. Terms of the deal, expected to close in the fourth quarter, were not disclosed.
OneWest acquired La Jolla Bank in an Office of Thrift Supervision/Federal Deposit Insurance Corp. transaction in February.
Geoff Greenwade, president of Green Bank, said "Our goal is to increase lending operations with mortgages, lines of credit, commercial and owner-occupied real estate loans in the $1 to $15 million dollar range."
He added Green Bank has already made commercial loans in the Dallas-Ft. Worth market; it is now looking for commercial bankers who "have deep business and community connections." The company had previously hired Bart Bearden to lead its North Texas operations.
At the end of June, Green Bank's parent Green Bancorp Inc., raised $100 million in equity capital with three independent investment firms. The new investors include funds affiliated with Friedman Fleischer & Lowe LLC, Harvest Partners LP and Pine Brook Road Partners LLC. Some of the proceeds will be used to support the North Texas expansion plans.
