Triumph Bancorp Acquires National Bancshares
Triumph Bancorp, parent of Triumph Savings Bank, said it has signed a definitive agreement to acquire National Bancshares, parent of THE National Bank, headquartered in Bettendorf, IA.
National Bancshares is a $945 million bank holding company. Its community banking subsidiary, THE National Bank, which has 19 branches and 3 loan production offices located throughout IA, IL and WI.
“Triumph’s acquisition of National Bancshares will provide immediate and long-term benefits to both of our organizations,” commented Aaron P. Graft, president and CEO of Triumph Bancorp. “We are excited to welcome the customers and staff of National Bancshares and THE National Bank to the Triumph Bancorp group of companies.”
The agreement provides for Triumph Bancorp to acquire National Bancshares, resulting in $1.2 billion in total assets and pro forma capital of over $150 million for the combined organization.