San Angelo bank system to acquire Abilene bank system

SAN ANGELO, Texas (Concho Valley Homepage) — City National Bank, a bank system operating in San Angelo and Colorado City, has announced that it will acquire Citizens Bank, a bank system with locations in Abilene and Knox City, after an agreement was reached between the banks’ holding companies.

According to City National Bank, City National Bank holding company City National Bancshares Inc. and Citizens Bank holding company Big Country Bancshares Inc. reached a definitive agreement in which City National Bancshares “will acquire 100% of the issued and outstanding shares of common stock of Big Country Bancshares, Inc.”

“The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions, including regulatory and shareholder approvals,” City National Bank said. “Upon completion, the combined assets of the banks are projected to total approximately $430 million.”

According to the City National Bank website, the bank was established in Colorado City in 1900. It opened a location in San Angelo in 2019 and continues to operate in both cities. City National Bank stated that Citizens Bank was established in 1920 and operates in Abilene and Knox City.

“We are incredibly excited about the opportunity to expand into the Abilene and Knox City markets,” said Wrey Montgomery, CEO and president of City National Bancshares. “This strategic partnership strengthens our commitment to community banking, enhances customer and shareholder value, and ensures continued local service with the same trusted Citizens Bank staff our customers know and rely on.”