Affiliated Bank, N.A. opened its doors in 1959 as Affiliated Federal Credit Union. It was chartered to be a financial institution that would serve the Affiliated Food Stores, their owners, employees and their families. The next step of the journey began when the Credit Union converted to a Federal Savings Bank on June 1, 1998. At that time, the Bank’s asset size was $8 million.
As the Bank settled into its new name and position as Affiliated Bank, it continued to expand its deposit and lending products to include commercial checking accounts and money market accounts, along with interim construction lending and commercial lending to small businesses. By May 1, 2000, the Bank had grown to an asset size of $26 million and it moved to the 500 Harwood Road location in Bedford, Texas. To stay adequately capitalized to support growth, in 2001, Affiliated Bank converted from a mutually owned bank into a stock owned savings bank, the ownership structure that would make future growth possible due to the improved ability to raise equity. This change enabled Affiliated to expand operations, including increased lending and investment activities.
In March 2005, having outgrown the Bedford location, the Bank began construction of an additional facility on Pleasant Ridge in Arlington that would become our biggest branch. Then in November of 2008, the Bank was joined by an experienced group of mortgage bankers. In 2012, Affiliated Bank acquired additional key team members, opened its Garland branch, and became active as a Small Business Administration Lender. Having a location in the Northeast side of the DFW Metroplex greatly expanded the service area, while SBA Loan programs enabled the Bank to offer expanded loan options to small business. In 2013, the mortgage center moved to a new facility located at 3030 Matlock Road in Arlington and now supports mortgage lenders across Texas. The fourth retail branch addition was in October 2014 in Round Rock, Texas, expanding what was previously a loan production office into a branch and growing the service area to include Austin and surrounding communities.
The journey continued when the Bank entered into an Investment Agreement in 2017 with Susser Bank Holdings LLC (“SBH”). SBH is led by Sam L. Susser, a successful fifth generation Texas businessman. The transaction, along with converting from a national thrift charter to a national bank in February 2018, provides us with the capital and flexibility to accelerate the Bank’s long-term growth and diversification strategy. The transaction closed on July 2, 2018. On December 9, 2019, Affiliated Bank announced it had entered into an agreement to merge with SouthWest Bank. The combination requires regulatory approval and is currently expected to close in the 2nd quarter of 2020.
The Bank remains committed to providing a comfortable and friendly environment in which to conduct financial business while maintaining the high level of personal service to which its customers have grown accustomed. We take great pride in our “can do” culture and responsiveness for our customers, team members, and shareholders. You are invited to stop by and see for yourself what a “Friendly Community Bank” feels like. By the end of your visit you will understand our motto – Why bank anywhere else!