We are pleased to announce that Elsa State Bank & Trust has been acquired by Rio Bank. Elsa State Bank will begin operating as Rio Bank on September 1, 2018. This acquisition allows Rio Bank to further develop its footprint in the Rio Grande Valley, with 14 bank locations from Starr, Hidalgo and Cameron counties, extending from Roma to Brownsville.
By combining these two well-respected community banks, Rio Bank will have assets of approximately $550 million, with $340 million in loans and $450 million in deposits. Our community banks both share the same vision and devotion in providing quality customer service and diverse products to each and every one of our valued customers. You will continue to see the same friendly and familiar faces you know and trust in servicing all of your financial needs.
Current Elsa State Bank customers will continue to conduct banking business as usual. You will continue to use your same Elsa State Bank accounts, checks, account logins and debit cards until February 2019. “System Integration” will officially take place in February 2019. As part of our commitment to remain your trusted bank, we will ensure this transition causes as little disruption to you as possible.
What you will notice immediately that will change:
- Rio Bank name on signage and legal documents
- You will be able to make deposits at all Rio Bank locations and get next day credit
- Check cashing up to $2,500 at all Rio Bank locations
- No Surcharge fees for ATM withdrawals at all 8 Rio Bank Locations
- New Deposit cut-off time change from 4:00 p.m. to 6:00 p.m.
We understand that you may have questions about how this change will affect you as we move forward. Please continue to address inquiries and business transactions with your existing Elsa State Bank representative or loan officer. Enclosed find our document on “Frequently Asked Questions" regarding the merger.