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02/27/2012

Fort Worth-based Carlile Bancshares buys Denton bank

Carlile Bancshares, a Fort Worth-based organization formed in 2009 to acquire existing banks, said Monday it agreed to buy Northstar Financial Corp., a much larger institution based in Denton. Terms were not disclosed. Northstar has 10 locations in North Texas and nearly $1 billion in assets. Carlile owns two banks, Treaty Oaks Bank in central Texas and Bank of Broadmoor in Colorado Springs, with about $300 million in assets.

"Northstar Bank is a successful community bank with the established leadership and brand that will add value to our holding company and positions us strategically to continue growing throughout Texas," said Carlile CEO Tom Nichols. Nichols and Carlile co-founder Don Cosby previously were with State National Bank, which was acquired by what is now BBVA Compass in 2006.

-- Jim Fuquay

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