Commerce Street Capital, LLC (CSC), a Dallas-based investment banking firm, advised WNB Bancshares, Inc. on its acquisition by Cullen/Frost Bankers, Inc. Western National Bank is headquartered in Odessa, Texas and Cullen/Frost Bankers, Inc. is headquartered in San Antonio, Texas. This announcement was made today by Dory Wiley, President and CEO of CSC.

CSC Managing Director C. K. Lee was the lead financial advisor for Western National Bank and was assisted by Managing Director Brian Johnson and Associate Preston Simons. CSC’s team worked closely with the WNB Bancshares leadership in the negotiations with Cullen/Frost Bankers.

C. K. Lee said, “This is an important transaction for the oil-and-gas producing Permian Basin region.  It provides an opportunity for WNB Bancshares to expand the services and products it offers to customers during a period of strong growth in the energy industry. The transaction also deepens Cullen/Frost Bankers’ roots in the heart of oil-and-gas producing West Texas.”

Prior to the transaction, WNB Bancshares was a full-service bank with total assets of $1.4 billion, total deposits of $1.2 billion and total loans of $656 million, as of June 30, 2013. Approximately two-thirds of WNB Bancshares’ loans come from the energy sector. The Permian Basin region in which WNB Bancshares operates, accounts for 57 percent of the oil produced in Texas and 14 percent of the oil produced in the United States.

With $24.7 billion in assets, Cullen/Frost Bankers, Inc. operates more than 100 branches throughout Texas. After the merger, Cullen/Frost will remain the sixth largest bank in Texas.

CSC’s Financial Institutions Group practice centers exclusively on serving the needs of the financial services sector. The group aims to provide sound, comprehensive advice, expert structuring and optimum execution to banks, bank holding companies and allied businesses. CSC is the market leader for bank transactions in the Southwest and is recognized for providing clients with unbiased analyses and the independent opinions required to fulfill their fiduciary obligations.