Inter National Bank was a U.S. bank headquartered in
McAllen, Texas
McAllen is a city in the U.S. state of Texas and the most populous city in Hidalgo County. It is located at the southern tip of the state in the Rio Grande Valley, on the Mexican border. The city limits extend south to the Rio Grande, acros ...
. It had 21 Texas locations and offered a full range of banking products for businesses and consumers in the
Rio Grande Valley
Lower Rio Grande Valley (), often referred to as the Rio Grande Valley (RGV) of South Texas, is a region located in the southernmost part of Texas, along the northern bank of the Rio Grande. It is also known locally as the Valley or the 956 (the ...
,
El Paso
El Paso (; ; or ) is a city in and the county seat of El Paso County, Texas, United States. The 2020 United States census, 2020 population of the city from the United States Census Bureau, U.S. Census Bureau was 678,815, making it the List of ...
and
Laredo. , it was included in the list of the top 30 largest banks by asset size headquartered in Texas.
On November 27, 2018, Inter National Bank and
Vantage Bank Texas merged. The consolidated bank now operates under the Vantage Bank Texas name.
Before its merger, Inter National Bank had a Five Star Safe & Sound rating by
Bankrate
Bankrate, LLC is a consumer financial services company based in New York City. Bankrate.com, perhaps its best-known brand, is a personal finance website. As of November 8, 2017, it became a subsidiary of Red Ventures through an acquisition.
His ...
, its highest rating. Inter National Bank maintained a Bankrate Safe & Sound five star rating from September 2013 to December 2015. Inter National Bank was also rated Five-Star Superior for financial strength by BauerFinancial and was included in the Bauer's Recommended Bank Report.
History
In 1991, Hidalgo Federal Savings & Loan Association in
Edinburg, Texas
Edinburg ( ) is a city in and the county seat of Hidalgo County, Texas, United States. The population was 100,243 at the 2020 census, and in 2022, its estimated population was 104,294, making it the second-largest city in Hidalgo County, and th ...
failed and a portion of its assets were acquired by Inter National Bank.
In 2002, the American Bankers Association's ABA Banking Journal named Inter National Bank the top performing non-Subchapter S bank in the nation with assets between $100 million and $1 billion.
In 2005, Inter National Bank acquired
Weslaco-based City National Bank.
In 2006, Mexico's
Banorte
Grupo Financiero Banorte, S.A.B. de C.V., doing business as Banorte (''Banco Mercantil del Norte'') and as Ixe, is a Mexican banking and financial services holding company with headquarters in Monterrey and Mexico City. It is one of the four lar ...
acquired 70% of INB Financial Corp stock for $259 million. INB Financial Corp is the holding company of Inter National Bank. Banorte exercised its option to acquire the remaining 30% of INB Financial Corp stock for $146.6 million in 2009.
On November 3, 2016, it was announced that the Collins Family Trust was acquiring Inter National Bank from Banorte. Terms of the deal were not disclosed. James W. Collins, trustee of the Collins Family Trust, is one of the original founders of the bank and was the majority shareholder prior to the Banorte acquisition.
On March 31, 2017 the Collins Family completed the purchase of Inter National Bank and named James W. Collins, Chairman of the Board.
On November 27, 2018, Inter National Bank and
Vantage Bank Texas merged. The consolidation, which will operate under Vantage Bank Texas, created a community bank with $1.9 billion in total assets. Vantage Bank Texas was founded in 1923 and is a family-owned, community-based financial institution headquartered in San Antonio, Texas.
About Vantage Bank Texas
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References
{{McAllen, Texas
Banks based in Texas
Defunct banks of the United States
Companies based in McAllen