Century Bank
Encyclopedia
Century Bank was a bank headquartered in Texarkana, Texas
that offered banking, mortgage
, lending and trust services. Its holding company
, Century Bancshares Inc., was based in Dallas, Texas
. On December 31, 2008, Century Bankcshares Inc., was acquired by Wells Fargo
.
On August 13, 2008, San Francisco-based Wells Fargo
announced its plans to acquire Century Bank and all its operations. The merge of Century Bank into Wells Fargo's community banking operations, pending regulatory approval as of September 2008, would mark the latter's first entry into Arkansas (with four branches) making it its 24th community banking state. In addition, the proposed deal potentially bolsters Wells Fargo's position in the Dallas-Fort Worth market, where the bank holds the third largest market share versus Century's 30th largest among 185 area financial institutions.
On December 31, 2008, Wells Fargo completed its acquisition of Century Bank and on April 27, 2009, began serving customers under the Wells Fargo brand.
Texarkana, Texas
Texarkana is a city in Bowie County, Texas, United States. It effectively functions as one half of a city which crosses a state line — the other half, the city of Texarkana, Arkansas, lies on the other side of State Line Avenue...
that offered banking, mortgage
Mortgage loan
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...
, lending and trust services. Its holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
, Century Bancshares Inc., was based in Dallas, Texas
Dallas, Texas
Dallas is the third-largest city in Texas and the ninth-largest in the United States. The Dallas-Fort Worth Metroplex is the largest metropolitan area in the South and fourth-largest metropolitan area in the United States...
. On December 31, 2008, Century Bankcshares Inc., was acquired by Wells Fargo
Wells Fargo
Wells Fargo & Company is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home...
.
History
Founded in 1900 as the First National Bank of New Boston, the name was officially changed in 1998 to Century Bank, with a plan was instituted for regional expansion. In August 2002, Century Bank launched a seven-day banking schedule so that both lobbies and drive-thrus remained open for business seven days a week and most holidays.On August 13, 2008, San Francisco-based Wells Fargo
Wells Fargo
Wells Fargo & Company is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home...
announced its plans to acquire Century Bank and all its operations. The merge of Century Bank into Wells Fargo's community banking operations, pending regulatory approval as of September 2008, would mark the latter's first entry into Arkansas (with four branches) making it its 24th community banking state. In addition, the proposed deal potentially bolsters Wells Fargo's position in the Dallas-Fort Worth market, where the bank holds the third largest market share versus Century's 30th largest among 185 area financial institutions.
On December 31, 2008, Wells Fargo completed its acquisition of Century Bank and on April 27, 2009, began serving customers under the Wells Fargo brand.