Sterling Bank (Texas) Information and Facts

Sterling Bank (Texas) is a community-focused bank with a strong presence in the Lone Star State. It was founded in 1884, making it one of the oldest banks in Texas.

Sterling Bank has a long history of serving the local community, with a focus on providing personalized service and supporting local businesses. The bank has a total of 18 branches across Texas.

Sterling Bank is a subsidiary of Sterling Bancshares, Inc., a publicly traded company listed on the NASDAQ stock exchange.

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Comerica Inc. agreed to acquire Houston-based Sterling Bancshares Inc. for $10 a share, or about $1 billion.

The acquisition represents a 30 percent premium over Sterling's closing price on Friday of $7.70.

Comerica's chairman and CEO, Ralph Babb Jr., said the deal provides an entry into the San Antonio market, one of the fastest-growing metropolitan areas in the country.

Sterling Bank has a very appealing branch network that almost doubles Comerica's presence in Houston.

After the deal, Comerica would grow from 95 to 152 banking centers in the state, including 11 in Austin.

Comerica's shareholders did not applaud the acquisition, which some analysts called overpriced, with shares dropping more than 8 percent to $38.74.

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Sterling Bank was founded in 2007 in Houston, Texas.

The bank offers a range of personal and commercial banking services, including checking and savings accounts, loans, and credit cards.

Sterling Bank has a strong presence in the Texas market, with multiple branches and ATMs throughout the state.

Sterling Bank is a member of the Federal Deposit Insurance Corporation (FDIC), which insures deposits up to $250,000.

The bank's customer service is available 24/7, with online banking and mobile banking apps for easy account management.