Keystone Bancshares Raises $20M, Acquires Ballinger National

Bank holding company Keystone Bancshares Inc. closed its first round of equity capital to the tune of $20 million, and opened its first branch in Bee Cave, TX. Additionally, the Austin company acquired Ballinger National Bank, near San Angelo, TX, which will be operated under the Keystone Bank name.

Westlake Securities served as the placement agent for the company, which will focus on private banking, commercial and residential real estate and small business loans in western Travis County and the Hill Country.

According to the Austin Business Journal, the financial institution is being launched by Jeff Wilkinson, who also founded Pioneer Bank. He left Pioneer in 2016. Wilkerson is Keystone Bank’s founder, chairman and CEO.

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