FOR IMMEDIATE RELEASE
Contact: Mary Martha Stewart
Independent Bank
214.544.4658 (direct line)
903.814.9994 (cell phone)
Square One Mortgage Joins Independent Bank
McKinney, TX, October 16, 2008—McKinney-based Independent Bank Group announced
today that it has reached a definitive agreement with principals Johnny Galyean and Sara Thomas to purchase Square One Mortgage, Inc. effective November 1, 2008. This transaction comes on the heels of the recent announcement of Independent Bank’s anticipated 12/31/08 acquisition of its sister bank, Independent Bank of Central Texas. These transactions will result in numerous benefits for the customers, shareholders and employees of all three organizations.
Independent Bank Group Chairman, David Brooks, referred to the purchase as
another major milestone in continuing the Bank’s growth throughout the state. Brooks said,
“We are proud to partner with Johnny and Sara as we enlarge our footprint across Texas. Square One Mortgage, under their capable leadership, has a proven reputation for delivering a level of service that is indisputably exceptional. We share a common commitment to excellence and to highly personalized customer care…and we feel privileged that the Square One team will soon join the Independent Bank family!”
Galyean concurred by saying, “Square One has grown steadily during the past ten years by consistently exceeding our clients' expectations, and Sara and I look forward to broadening our customer base throughout Texas as we grow with Independent Bank. Knowing that the Bank shares the same commitment to customer service makes this a perfect fit."
Under the high-touch approach of Galyean and Thomas, Square One Mortgage has built a
strong presence in the Collin County and DFW area markets since its inception in 1998. As a
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result of this merger, Independent Bank clients will now have access to superior mortgage bankers and Square One Mortgage will be able to provide their stellar service to clients throughout the state. Offering a full range of mortgage products including VA, FHA, conventional and investment property loans, Square One is also a long-time partner with the City of McKinney affordable housing program offering down-payment assistance grants to qualified home buyers.
Sara Thomas explained that the merger of Square One Mortgage and Independent Bank creates not only a stronger community banking presence but a stronger community service base as well. “David Brooks taught me the value of community service when I first met him sixteen years ago. The commitment of Brooks and his entire corporate family to making our community a better place in which to live is a primary reason why we are so excited about this announcement.”
Nearing the billion dollar asset level, Independent Bank is growing as a formidable, regional presence in the state, and as a result, provides greater opportunities for professional growth for its 200+ employees in 20 locations. For additional information, please visit www.independent-bank.com or contact Johnny Galyean or Sara Thomas directly at 972.569.8677.
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