Contact: Ashley Freer
Balcom Agency, 817-877-9933
FORT WORTH, Texas – July 9, 2014 – Southwest Bank today announced that the Bank has been named successor trustee for five Royalty Trusts in the energy sector: Permian Basin Royalty Trust (PBT), Sabine Royalty Trust (SBR), Hugoton Royalty Trust (HGT), Cross Timbers Royalty Trust (CRT), and Tidelands Royalty Trust “B” (TIRTZ). Each public Trust was previously managed by Bank of America, N.A. (also known as U.S. Trust, Bank of America Private Wealth Management).
With the addition of these Royalty Trusts, Southwest Bank now manages $1.2 billion in trust assets. Employees who handled the Trusts at Bank of America became employees of the Bank, effective July 1, and will office at Southwest Bank’s Dallas location on Turtle Creek Boulevard.
“Southwest Bank has been meeting the banking, wealth management, and mortgage needs of North Texas residents for more than 50 years,” said Vernon Bryant, Southwest Bank’s Chairman and CEO. “We are pleased to have been chosen to manage these Trusts—some of which have local roots—as part of our growing wealth management group.”
About Southwest Bank
Proudly serving North Texas for 50 years, Southwest Bank is the largest, locally owned, independent commercial bank in Tarrant County. In addition to full-service banking centers in Fort Worth, Dallas, Arlington, Burleson, Grapevine, Mansfield and Saginaw, Southwest Bank maintains mortgage offices in Fort Worth, Dallas and Austin. Southwest Bank values its customers and believes in building loyal, lasting relationships through personalized service, honesty and integrity. For more information, visit www.SouthwestBank.com. Member FDIC.