Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(For more retail coverage, click GlobeSt.com/RETAIL.)

McALLEN, TX-Regulatory approval from the Federal Reserve Bank of New York has brought Banco Bilbao Vizcaya Argentaria SA’s acquisition of Texas Regional Bancshares Inc. one step closer to reality. If the $2.16-billion merger goes through, Texas Regional will become a wholly owned subsidiary of the international Bilbao Vizcaya Argentaria, headquartered in Spain.

The merger was announced in June, and Texas Regional Bancshares shareholders approved it in September. For Banco Bilbao Vizcaya Argentaria, the merger represents a method to solidify its strength in the Texas market. The bank had acquired Laredo National Bank in 2005 and “the acquisition of Texas State Bank represents a significant step in the execution of BBVA’s US strategy, which we began in 2004,” said Bilbao Vizcaya Argentaria’s US CEO José María García in a prepared statement.

On the other side of the deal, Texas Regional Bancshares chairman and CEO Glen E. Roney indicated in the same statement that customers will continue to see the same level of service and “at the same time will enjoy a broader array of financial products and services.”

Upon completion of the merger, Texas Regional Bancshares, which will become part of Bilbao Vizcaya Argentaria’s US retail banking unit, will continue current operations under the same management team, while carrying the Bilbao Vizcaya name (BBVA US). The acquisition will also make Bilbao Vizcaya Argentaria the largest bank in the Texas market.

Details on the closing date were not available. Representatives from Bilbao Vizcaya Argentaria and Texas Regional Bancshares could not be reached by press time.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.