Rio Financial Services, Inc. to Acquire Lone Star Capital Bank, N.A.

On February 20, 2025, Rio Financial Services, Inc. the parent company of Rio Bank, headquartered in McAllen, Texas, and Lone Star Capital Bank (”Lone Star”), headquartered in San Antonio, Texas, jointly announced the signing of a definitive agreement providing for the merger of Lone Star with and into Rio Bank. Upon the consummation of the merger, Lone Star will become a part of Rio Bank.

Following the close of the transaction, the combined market presence is expected to total approximately $780 million in loans, approximately $1,175 million in deposits, and approximately $1,430 million in total assets, with twenty-two full-service branches from Brownsville in the lower Rio Grande Valley to Marble Falls in the Texas Hill Country.

The boards of directors of Rio Bank and Lone Star have unanimously approved the transaction. The transaction is subject to customary closing conditions, including receipt of regulatory approval. Shareholders of Lone Star have already approved the merger.