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Lone Star Capital Bank, N.A. Enters Into a Definitive Agreement to join Rio Financial Services, Inc.

MCALLEN, TX and San Antonio, TX (February 20, 2025) – Rio Financial Services, Inc. (“RFS”), the parent company of Rio Bank, headquartered in McAllen, Texas, and Lone Star Capital Bank, N.A, (”Lone Star”), headquartered in San Antonio, Texas, today jointly announced the signing of a definitive agreement providing for the merger of Lone Star with and into Rio Bank. Upon the consummation of the merger, Lone Star will become a part of Rio Bank.

“We are excited to be expanding our footprint in the San Antonio and Texas Hill Country,” said Ford Sasser, Chief Executive Officer of RFS and Rio Bank. “Lone Star has offices in San Antonio, Blanco, Johnson City, Dripping Springs and Marble Falls. These are markets we have not been servicing in the past but we look forward to becoming a part of these communities.”

Following the close of the transaction, the combined market presence is expected to total approximately $780 million in loans, approximately $1.2 billion in deposits, and approximately $1.4 billion in total assets, with twenty two full-service branches from Brownsville in the lower Rio Grande Valley to Marble Falls in the Texas Hill Country.

“Our customers and employees will like the idea of merging with another locally owned community bank. Rio Bank shares the same values and culture as Lone Star,” says Danny Buck, President and CEO of Lone Star.

The boards of directors of Rio Bank and Lone Star have unanimously approved the transaction. The transaction is subject to customary closing conditions, including receipt of regulatory approval. Shareholders of Lone Star have already approved the merger.

Donnelly, Penman & Partners acted as financial adviser to Rio Bank, and the law firm of Holland & Knight LLP acted as its legal adviser. Stephens, Inc. acted as financial adviser to Lone Star, and the law firm of Fenimore, Kay, Harrison, LLP acted as its legal adviser.

About Rio Bank

Rio Bank is a community bank based in McAllen, Texas with operations across the Rio Grande Valley and San Antonio. With 16 locations along the United States/Mexico border and Central Texas, Rio Bank and its over 200 bankers serve their customers in their communities. The bank is a leader in commercial lending and has a full range of banking, Trust, Mortgage and other financial services. Rio Bank had $941 million in assets and $485 million in loans as of December 31, 2024. The bank is focused on helping its community grow by adhering to their values of Honesty, Integrity and Quality Service.

Rio Bank Headquarters Building

RIO BANK BUILDING PUBLIC ANNOUNCEMENT

Rio Bank has been growing steadily over the last Thirty Five years and we are excited to announce our new Rio Bank Corporate Headquarters in McAllen is now open for business. Our 115,000 square foot office building is a Class A Plus facility with tenant space as well as our bank. Rio Bank will occupy the first floor, second floor and the sixth floor.

LOCATION OVERVIEW

High visibility location with easy access to all parts of the Rio Grande Valley via Expressway 83. Adjacent to the high-end Newport Landing subdivision and minutes from Historic downtown McAllen and the McAllen Country Club/Country Club Terrace via Jackson Ave and McColl Rd. Additionally, Rio Bank Building is 5 minutes from the McAllen airport. The property is also in close proximity to McAllen Heart Hospital and Rio Grande Regional Hospital, both a part of the McAllen Medical Center.

PROPERTY DETAILS

Office Space for Lease ∼ 115,086 SF available ∼ New Class A+ Office Development

• Lease Rate: $24.50 Sf/Yr (NNN)
• Parking Ratio: 3.5/1000, surface
• Number of Floors: 6
• Energy Star Certified

Headquarters Lease Brochure

Rio Bank Keeps Your Deposits Secure and Local

Message from CEO and President

March 17, 2023

To the Customers and Communities Rio Bank serves,

There has been a significant amount of discussion this week regarding the soundness of our nation’s banking industry. What happened to Silicon Valley Bank (SVB) in California and to Signature Bank in New York was unfortunate. We always feel sorry for businesses that fail. We sympathize with their shareholders and customers. The failure of these two banks is largely the result of some poor business decisions made by their management teams that exposed them to more risk than most banks in our country.

We are reaching out to you today because the media seems intent on trying to make these two bank failures a national crisis in the banking system and that hysteria seems to be causing concern by some customers.

For over 38 years, Rio Bank has been prudent in its lending practices by monitoring and maintaining strict policy limits in our loan portfolio. We lend to a wide range of industries and collateral types. This is a sensible practice for well-managed banks. On the deposit side of our bank, we are proud of the diversity in our nearly 24,000 accounts of which less than 2% exceed the current FDIC insured limit of $250,000. This core deposit base of Rio Bank remains a true strength of our organization.

Rio Bank just completed an examination by the FDIC and received a very clean examination report. Your bank is on solid ground and there is no reason for any customer of Rio Bank to be concerned about the safety and soundness of their bank. One thing about banks, we are very transparent about our financial conditions. At the end of each quarter, every bank provides a copy of our financial statement and our profit and loss statement to the public. We encourage all depositors to look at the financial statements of the banks that they deposit money in and
assure themselves that the bank they are using is in sound financial condition. This financial information is readily
available at:

Federal Financial Institutions Examination Council

Rio Bank has actually seen an increase in its number of customers during the past week. There seems to be a flight to safety and people see Rio Bank as the well-capitalized bank that it is. The holding company that owns Rio Bank has over $80 million dollars on deposit in Rio Bank and knows that money is safe.

America’s banking system is resilient and remains able to support the economy and communities they serve despite global pandemic, rising inflation, and an unprecedented increase in interest rates. Texas banks are among the strongest in the nation. If Texas was a nation, Texas would have the 9th largest economy in the world. That is why you see so many out of state banks opening offices in Texas.

Know that we, at Rio Bank, take our fiduciary responsibility to our customers very seriously. The business decisions we make are always putting prudence over profits. We are proud of our bank and the strong capital position that we hold. We maintain a strong liquidity position and we want to continue to maintain these sound banking practices not only today, but into the future.

Your Kind of Bank and Your Kind of Bankers.