(Source: PRNewswire)FORT WORTH, Texas, June 8 /PRNewswire/ -- Carlile Bancshares, Inc., Fort Worth, Texas, announced today that it has received conditional preliminary approval from the Office of the Comptroller of the Currency ("OCC") for a "shelf" national bank charter for its wholly-owned subsidiary, Carlile Bank, National Association. The OCC's order was dated May 29, 2009. The Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve System have also reviewed Carlile's shelf charter proposal. To date, Carlile has received commitments and highly confident letters in excess of $50 million to capitalize the bank.

A "shelf charter" is a specialized vehicle designed to acquire assets and deposits of failing depository institutions from the FDIC. The charter remains inactive or "on the shelf" until it is the successful bidder on a failing institution. The organizers of Carlile Bank, National Association believe that the formation of a shelf charter is an attractive way to begin building a premier regional community banking organization.

Carlile Bancshares, Inc. was founded by long time Texas bankers Tom C. Nichols and Don E. Cosby. In 1996, Mr. Nichols and Mr. Cosby formed State National Bancshares, Inc. ("SNBI") and chartered its subsidiary State National Bank, a de novo national banking association originally chartered in Lubbock, Texas. From 1996 to 2005, SNBI completed nine acquisitions and grew from a de novo in 1996 to a publicly held company with assets of over $1.7 billion at the time of its acquisition by Banco Bilbao Vizcaya Argentaria, S.A. on January 3, 2007.

Mr. Nichols and Mr. Cosby have extensive experience over the past 40 years buying and operating financial institutions which included some that were troubled, as well as institutions acquired directly from the FDIC. During this time, Mr. Nichols and Mr. Cosby were involved in the acquisition of more than 35 commercial banks. Four of these acquisitions were purchase and assumption transactions with the FDIC.

SOURCE Carlile Bancshares, Inc.

Originally published by Carlile Bancshares, Inc..

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