Building on generations of community banking.
A partnership founded on trust, service, and shared values.
Bowie, Texas – Legend Bancorp, Inc., the holding company for Legend Bank, N.A., today announced it has entered into a definitive agreement to acquire Graham Savings and Loan, SSB, a Texas community bank founded in 1934, headquartered in Graham, Texas with approximately $160 million in assets. The planned transaction brings together two relationship-focused institutions with long-standing histories, strong community reputations, and a shared commitment to putting customers first.
“Since 1934, Graham Savings and Loan has built a strong legacy rooted in community banking and a deep commitment to the people it serves, and we have great respect for that history,” said Jay Bearden, CEO and President of Legend Bank. “We’re proud to carry that legacy forward together. As a locally-owned, community bank focused on our employees, customers and communities, we have a similar DNA. We share many of the same values, from investing in our people to putting customers first. From our earliest conversations, it was clear there was strong alignment in how we think and operate. Both of our organizations were founded on trust, lasting relationships, and a genuine passion for serving others. That shared heart is what makes this a great fit.”
“We were intentional in choosing a partner that shares our community banking values and understands the importance of local service,” said Codie Hedge, President & CEO, Senior Lender, Graham Savings and Loan. “With similar small-town roots, we believe Legend Bank is well positioned to help carry our legacy forward while preserving what matters most to our customers and employees. This agreement reflects what has always been at the heart of our organization, taking care of our customers, supporting our team, and investing in the places we call home. We’re confident this partnership will allow us to continue delivering the relationship-focused service our customers expect, strengthened by additional resources and continued support for our communities.”
The transaction has been unanimously approved by the Boards of Directors of both companies. It remains subject to customary shareholder and regulatory approvals and is expected to close later this fall, with the bank merger and full conversion occurring in the spring of next year.
What customers can expect
Legend Bank and Graham Savings and Loan are aligned in their community banking approach, focused on relationships, responsiveness, and delivering products and services that fit the needs of local families, businesses, and organizations. Customers can expect continued service and support from the Graham Savings bankers and staff they know and trust throughout the transition process. More information is available online at https://www.legend.bank/about-us/legend-bank-to-acquire-graham-savings-bank/ and additional updates will be shared when available.
About Legend Bank
Legend Bank is a Texas-based community bank founded in 1890, headquartered in Bowie, focused on enriching the lives of its stakeholders by providing Legendary financial services and resources. Legend Bank has 13 full-service branch locations and two loan offices throughout North Texas with total assets of over $1.2 billion. Legend Bank serves the people and businesses in and around Bowie, Alvord, Decatur, North Richland Hills, Fort Worth, Weatherford, Henrietta, Wichita Falls, Nocona, Whitesboro, Sherman, Bonham, Cooper, Paris and Whitewright.
About Graham Savings and Loan
Founded in 1934, Graham Savings and Loan has served generations of families, businesses, and communities across Graham, Breckenridge, and Possum Kingdom with a commitment to relationship-focused community banking. Locally owned for more than 90 years, the bank has built its reputation on trusted service, local decision making, and strong community involvement. Guided by values of integrity, personal service, and community commitment, Graham Savings and Loan remains dedicated to helping customers, employees, and local communities grow and succeed.
Hunton Andrews Kurth LLP served as legal counsel to Legend Bank and The Bank Advisory Group served as financial advisor. Bradley Arant Boult Cummings LLP served as legal counsel to Graham Savings and Loan and Hillworth Securities, LLC served as financial advisor.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward‑looking statements, including but not limited to statements regarding the proposed transaction, the business of Legend Bank and other matters. Any statements about our expectations, beliefs, plans, predictions, protections, forecasts, objectives, assumptions, or future events or performance are not historical facts and may be forward‑looking statements. Forward‑looking statements are typically, but not exclusively, identified by the use of forward‑looking terminology such as “believes,” “expects,” “could,” “may,” “will,” “should,” “seeks,” “likely,” “intends,” “plans,” “pro forma,” “projects,” “estimates,” or “anticipates,” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters.
Forward‑looking statements are subject to risks and uncertainties and are not guarantees of future performance, and actual results may differ materially from those expressed or contemplated by the particular forward‑looking statement. Therefore, you are cautioned not to place undue reliance on such statements. Further, any forward‑looking statement speaks only as of the date on which it is made, and neither Legend Bank nor Graham Savings and Loan undertakes any obligation to update any forward‑looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law.
FDIC-Insured. Equal Housing Lender.
All loans subject to credit approval.
