LA GRANGE, TX – Texas United Bancshares, Inc. (Nasdaq: TXUI) through its banking subsidiary, State Bank, is pleased to announce the formation of a participation program to provide independent Texas banks with the opportunity to expand their commercial loan product lines. This participation program allows independent Texas banks to provide working capital credit facilities on a secured basis to their small and mid-market commercial customers that might not otherwise qualify for commercial loans.
Since its inception in 1996, the Working Capital Finance Group (WCFG) of State Bank has provided over $600 million in secured working capital advances to companies located throughout the state of Texas. WCFG is headquartered in Austin, and has been managed by a seasoned professional, Cole Harmonson, Senior Vice President of State Bank, since its inception. The department is fully-staffed and available to work with banks that do not yet have the in- house expertise to provide this specialized type of financing. There are opportunities for each bank to determine its level of involvement on a transaction-by-transaction basis.
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