WestStar Bank and its parent company recently acquired Las Vegas Bancorporation, the holding company of Southwest Capital Bank.
After the transaction closes, the combined organization will have approximately $3.8 billion in assets, with roughly $2.9 billion in loans and $3.3 billion in deposits. The acquisition expands WestStar’s presence in New Mexico, extending its footprint from Southern New Mexico into Albuquerque and Northern New Mexico. WestStar is based in El Paso, Texas and has 14 branches in the region.
“WestStar and Southwest Capital Bank share more than a commitment to community banking. We share remarkably similar values,” L. Frederick Francis, executive chairman of WestStar, said. “Both institutions were shaped by generations of bankers, business owners and families who believed their communities deserved a bank that understood them. That shared history and approach to banking made Southwest Capital Bank a natural fit for WestStar. Just as important, we share a vision for the future and a belief that locally guided community banks continue to play a vital role in helping businesses, families and communities thrive.”
Pending shareholder and regulatory approvals and customary closing conditions, Southwest Capital Bank is expected to become part of WestStar Bank during the first quarter of 2027.
“For more than 135 years, generations of clients, team members and community members have built Southwest Capital Bank into the institution it is today,” Chez Steel, president and CEO of Southwest Capital Bank, said. “As we considered how best to position our clients, team members and communities for the future, it was important to find a partner that respected our history, shared our values and was committed to relationship banking. We found that partner in WestStar.”
Following closing of the transaction, Steel will continue serving clients across New Mexico as the combined organization’s New Mexico Market President.