Worthington National Bank Successfully Completes $15 Million Capital Campaign in Two Months
Board of Directors Welcome 27 New Shareholders to Bank Portfolio
FORT WORTH, Texas – September 12, 2006 – With the motto, “We don’t close deals, we open relationships,” Tarrant County-based Worthington National Bank announces the close of their $15 million capital campaign. Of the $15 million, only $5 million was available to new shareholders. Over $7 million in potential out-of-state dollars were turned away in order to keep the bank’s ownership local. The 27 new shareholders include both familiar and prominent business leaders from the Dallas/Fort Worth community.
Although the Worthington National Bank’s twenty-year plan did not call for a capital campaign until 2007, the bank felt it was the appropriate time to take on this initiative. The capital generated from this campaign will allow Worthington National Bank to increase its loan limit from $1 million to $3 million. In fact, the bank plans to repurchase $15 million in loans that are currently sold. This will significantly enhance the bottom line for 2006. Additionally, it will pave the way for future locations, as well as the opportunity to take advantage of possible merger and acquisition opportunities.
Of the many things on the horizon for the bank, clients can look forward to new, convenient locations and the rollout of “remote capturing.” Remote capturing is relatively unheard of in the local market. “This product will revolutionize how our customers make their deposits,” says Greg Morse, CEO. Customers will have a toaster-size scanner that will allow them to send images of their checks to the bank. This alleviates the need to drive to the bank to make a deposit.
About Worthington National Bank
Worthington National Bank, one of the last locally-owned banks in Tarrant County, puts a priority on relationship-based banking. There are no 1-800 numbers and no automated phone systems. Offering checking, savings, money market accounts and loans, Worthington National Bank’s philosophy is that all customers are treated the same and clients are a name, not a number. Additionally, Worthington is committed to serving its communities and preserving Texas heritage, history and art. For more information, please visit www.worthingtonbank.com .
WNB Successfully Completes $15M Capital Campaign in Only 2 Months 9_12_06.pdf