Keystone Bancshares, Inc. Closing of Over $20 Million of Capital & Completes Platform Acquisition
Westlake Securities' investment banking team served as exclusive investment bank
AUSTIN, Texas, Oct. 17, 2018 /PRNewswire/ -- Keystone Bancshares, Inc., a bank holding company, has successfully closed its first round of equity capital resulting in aggregate gross proceeds exceeding $20 million and has acquired Ballinger National Bank (TX) to be operated under the Keystone Bank name.
Westlake Securities' investment banking team served as an exclusive placement agent to the Company. Matt Andersen, CEO of Westlake Securities, commented, "With this capital raise and acquisition successfully closed, Keystone will be well-positioned in the Austin market to execute its business plan and strategy. We congratulate all parties involved and are excited for Jeff Wilkinson, the management team, and the Board of Directors to embark on this exciting next phase of Keystone Bank's growth."
The acquisition of Ballinger National Bank occurred on October 15th, 2018, with the first round of the capital raise closing prior. Additionally, Keystone Bank has opened a branch on Bee Caves Road in Austin. Wilson Allen, co-founder of Westlake Securities, added, "We are excited to add this raise to a long list of Austin companies that we have advised and served as the investment bank and placement agent for, and we congratulate all Keystone stakeholders."
Keystone Bank's Founder, Chairman and CEO Jeff Wilkinson, said he greatly appreciates Westlake Securities' role in helping the bank launch. He also explains Keystone's points of differentiation. "Everything about our operation will put the client first – from the way we build relationships to why and how we'll use technology," said Wilkinson. "Keystone's bedrock will be the degree of depth, dimension and authenticity fostered in our relationships. We'll be in the trenches with our clients, keeping a constant ear out for how we can best help them overcome challenges."
This was the second capital raise that Westlake Securities has completed for central Texas community banks in recent years, and the fifth capital raise completed in the past year on behalf of clients.
About Westlake Securities, LLC
Westlake Securities is a middle market investment bank, founded in 2003, and headquartered in Austin, Texas. To learn more about Westlake Securities, please visit: www.westlakesecurities.com
Investment Banking Services and Securities offered through Independent Investment Bankers Corp., a broker-dealer, Member FINRA / SIPC. Westlake Securities is not affiliated with Independent Investment Bankers Corp.
About Keystone Bank
Keystone Bank launched in 2018 with a maverick and entrepreneurial approach to community banking that truly puts the client first. Based in the Austin suburb of Bee Cave, it will initially focus on serving clients in western Travis County and the Hill Country. Its services include private banking, commercial real estate, residential real estate and small business loans. Keystone aims to be the financial keystone for our customers by being great listeners and even better problem solvers.
To learn more about Keystone Bancshares, please visit: www.bankkeystone.com
SOURCE Westlake Securities, LLC
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