Woodhaven National Bank to be acquired by Pinnacle Bancorp

Fort Worth’s Woodhaven National Bank has agreed to be bought out by Nebraska-based Pinnacle Bancorp. Terms were not disclosed.

Woodhaven, founded in 1983 and based on Bridge Street in east Fort Worth, has eight area locations, including Ridglea Bank, Mercantile Bank in Arlington, Mansfield Community Bank, and branches in Rhome and Colleyville. Its assets total $485 million.

Pinnacle said each location will maintain its existing name.

“Pinnacle Bank operates under the community banking model, and we’ll maintain that community-based philosophy for Woodhaven through local decision-making and strong customer relationships,” Marc Hock, chairman of Pinnacle Bank Texas, said in a statement. “We see Woodhaven’s staff as a valuable asset, and we look forward to them being a part of our team.”

Ron Casey, Woodhaven’s chairman and CEO, said: “We have been impressed with Pinnacle Bank’s approach to its customers and communities. Pinnacle Bank is a great organization that will continue to support the development of the Fort Worth area.”

Pinnacle Bank Texas has 19 locations in Azle, Benbrook, Burleson, Cleburne, Fort Worth, Joshua, Keene and Springtown.

The transaction is expected to close in December, pending regulatory approval.

This story was originally published September 24, 2015 at 3:26 PM with the headline "Woodhaven National Bank to be acquired by Pinnacle Bancorp."