Inter National Bank

Inter National Bank
Headquarters McAllen, Texas
Key people
 James W. Collins, Chairman
Samuel J. Munafo, CEO
Amy Birt, CFO
Marin Espinosa, EVP
Website www.inbweb.com
Inter National Bank Headquarters, McAllen Texas
Inter National Bank El Paso Downtown Branch, El Paso, Texas
Inter National Bank McColl Rd Branch, McAllen Texas
Inter National Bank Laredo Branch, Laredo, Texas
Inter National Bank Sharyland Plantation Branch, Mission, Texas
Inter National Bank Weslaco Branch, Weslaco, Texas

Inter National Bank is a $1.8 billion U.S. bank headquartered in McAllen, Texas. With 21 Texas locations,[1] Inter National Bank offers a full range of banking products for businesses and consumers in the Rio Grande Valley, El Paso and Laredo. It is included in the list of the top 30 largest banks by asset size headquartered in Texas.[2]

Inter National Bank has a Five Star Safe & Sound rating by Bankrate, its highest rating.[3] Inter National Bank has maintained a Bankrate Safe & Sound five star rating from September 2013 to the current quarter available, December 2015. Inter National Bank is also rated Five-Star Superior for financial strength by BauerFinancial and is included in the Bauer's Recommended Bank Report.[4]

History

In 1991, Hidalgo Federal Savings & Loan Association in Edinburg, Texas failed and a portion of its assets were acquired by Inter National Bank.[5]

In 2002, the American Bankers Association's ABA Banking Journal named Inter National Bank the top performing non-Subchapter S bank in the nation with assets between $100 million and $1 billion.[6]

In 2005, Inter National Bank acquired Weslaco-based City National Bank.[7]

In 2006, Mexico's Banorte acquired 70% of INB Financial Corp stock for $259 million.[8] INB Financial Corp is the holding company of Inter National Bank. Banorte exercised its option to acquire the remaining 30% of INB Financial Corp stock for $146.6 million in 2009.[9]

On November 3, 2016, it was announced that the Collins Family Trust was acquiring Inter National Bank from Banorte.[10] Terms of the deal were not disclosed. James W. Collins, trustee of the Collins Family Trust, is one of the original founders of the bank and was the majority shareholder prior to the Banorte acquisition.

On March 31, 2017 the Collins Family completed the purchase of Inter National Bank and named James W. Collins, Chairman of the Board.[11]

References

  1. ↑ http://research.fdic.gov/bankfind/detail.html?bank=25879&name=Inter National Bank&searchName=&searchFdic=&city=&state=&zip=&address=&tabId=1
  2. ↑ http://www.banking.state.tx.us/pubs/topbnks/top100.htm
  3. ↑ http://www.bankrate.com/rates/safe-sound/memorandums-memos.aspx?fedid=894553
  4. ↑ "Archived copy". Archived from the original on 2008-07-02. Retrieved 2008-08-05.
  5. ↑ http://www.ffiec.gov/nicpubweb/nicweb/AcquisitionForm.aspx?parID_RSSD=894553&parDT_END=99991231
  6. ↑ https://www.inbweb.com/aboutinb/index.htm
  7. ↑ http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=289065&parDT_END=99991231
  8. ↑ http://www.banorte.com/portal/personas/informacion.web?grupo=14&elemento=69
  9. ↑ http://www.banorte.com/portal/personas/informacion.web?grupo=14&elemento=69
  10. ↑ http://www.themonitor.com/news/inter-national-bank-being-acquired-by-collins-family/article_67af113a-a204-11e6-8f98-6348b7cb1968.html
  11. ↑ http://www.themonitor.com/news/local/article_a2e0f34a-180b-11e7-a407-272db14b17d2.html
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