Southern Bankshares, Inc. to Join Pinnacle Bancorp, Inc.

Southern Bancshares, Inc. to Join Pinnacle Bancorp, Inc.

Moulton, TX: Pinnacle Bancorp, Inc. has signed an agreement to acquire Southern Bancshares, Inc., the parent company of SouthStar Bank of Moulton, Texas. SouthStar Bank has a total asset size of $1.35 billion with 16 full-service locations in Central Texas, including Austin, Bee Cave, Brazoria, Bremond, Calvert, Franklin, Georgetown, Gonzales, Harker Heights, Hearne, Kerrville, Leander, Moulton, Round Rock and Shiner. In addition, they have one loan production office (LPO) in Austin.

Executive Vice President of Pinnacle Bancorp, Inc., Matt Dinsdale, is proud of how the two banks align: “Under Pinnacle Bancorp, Inc., SouthStar Bank will continue to operate with local management, local decision-making and local control, reflecting both organizations’ shared commitment to community banking. Our heritage and values will continue to build on SouthStar Bank’s foundation for their employees, customers and communities.”

CEO of SouthStar Bank, David Kapavik, said, “I am honored for our team to be able to join another great family bank with a common culture, background, and community bank philosophy. SouthStar Bank makes a great fit for the Pinnacle Bank family strategically and geographically to serve customers in the Texas market.”

The branches and employees of SouthStar Bank will continue serving customers throughout the acquisition. Pinnacle Bancorp, Inc. has noted that they are proud to add additional locations, including SouthStar Bank’s established team.

The purchase is subject to regulatory approval and is expected to close in January 2027. Financial details of the transaction were not disclosed.

About Pinnacle Bancorp:

Founded in 1938, Pinnacle Bancorp, Inc. is a family-owned $20.2 billion regional banking organization operating in eight states with 164 branches. The company adheres to a community bank philosophy that values local decisions and local control.