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(THOMAS WALLNER | THE GRAHAM LEADER) Graham Savings and Loan announced that Legend Bancorp, Inc., the holding company for Legend Bank, will be acquiring the local bank and its $160 million in assets, with a closing date expected for fall and the merger for 2027.
Graham Savings and Loan announced that Legend Bancorp, Inc., the holding company for Legend Bank, will be acquiring the local bank and its $160 million in assets, with a closing date expected for fall and the merger for 2027.
Graham Savings and Loan was founded in 1934 and is headquartered in Graham and locally owned for more than 90 years. Jay Bearden, CEO and President of Legend Bank, said the local bank has a strong legacy that the company will respect.
“We’re proud to carry that legacy forward together. As a locally-owned, community bank focused on our employees, customers and communities, we have a similar DNA. We share many of the same values, from investing in our people to putting customers first,” Bearden said. “From our earliest conversations, it was clear there was strong alignment in how we think and operate. Both of our organizations were founded on trust, lasting relationships, and a genuine passion for serving others. That shared heart is what makes this a great fit.”
Legend Bank is a Texas-based community bank that was founded in 1890 and is headquartered in Bowie. Legend Bank has 12 full-service branch locations and two loan offices in North Texas with assets of over $1.2 billion.
While the transaction has been unanimously approved by the board of directors of both companies, it will be subject to shareholder and regulatory approvals that are expected to close in the fall, with a full conversion occurring in spring 2027.
“We were intentional in choosing a partner that shares our community banking values and understands the importance of local service,” said Codie Hedge, President and CEO, Senior Lender, Graham Savings and Loan. “With similar small-town roots, we believe Legend Bank is well positioned to help carry our legacy forward while preserving what matters most to our customers and employees.”
The local bank said that customers can expect continued service and support from Graham Savings bankers and staff.
“This agreement reflects what has always been at the heart of our organization, taking care of our customers, supporting our team, and investing in the places we call home,” Hedge said. “We’re confident this partnership will allow us to continue delivering the relationship-focused service our customers expect, strengthened by additional resources and continued support for our communities.”
