Experience service that makes banking feel personal again. Get local decision-making with all the modern conveniences — mobile banking, debit card rewards and more!
Experience service that makes banking feel personal again. Get local decision-making with all the modern conveniences — mobile banking, debit card rewards and more!
Experience service that makes banking feel personal again. Get local decision-making with all the modern conveniences — mobile banking, debit card rewards and more!
Experience service that makes banking feel personal again. Get local decision-making with all the modern conveniences — mobile banking, debit card rewards and more!
Experience service that makes banking feel personal again. Get local decision-making with all the modern conveniences — mobile banking, debit card rewards and more!
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A partnership founded on trust, service, and shared values.
We’re proud to announce that we’ve entered into a definitive agreement to acquire Graham Savings and Loan. Founded in 1934 and deeply rooted in its communities, Graham Savings and Loan shares our commitment to relationship‑focused banking, local service, and putting customers first. Together, we’re building on generations of community banking.
From the beginning, this has been a values-aligned partnership centered on trust, meaningful relationships, and a deep love for the communities we serve. We’re proud to carry forward Graham Savings and Loan’s legacy of customer service and community commitment with care and respect.
Customers can expect continued service and support from their Graham Savings and Loan bankers as the process moves forward. There are no immediate changes to how customers bank day-to-day, and when any changes occur, we will provide clear communication and details.
The transaction has been unanimously approved by the Boards of Directors of both banks and remains subject to customary shareholder and regulatory approvals. It is expected to close later this fall, with full conversion in the spring of next year.
Building on generations of community banking. A partnership founded on trust, service, and shared values.
MAY 2026/BOWIE, Texas -Legend Bancorp, Inc., the holding company for Legend Bank, N.A., today announced it has entered into a definitive agreement to acquire Graham Savings and Loan, SSB, a Texas community bank founded in 1934, headquartered in Graham, Texas with approximately $160 million in assets. The planned transaction brings together two relationship‑focused institutions with long-standing histories, strong community reputations, and a shared commitment to putting customers first.
“Since 1934, Graham Savings and Loan has built a strong legacy rooted in community banking and a deep commitment to the people it serves, and we have great respect for that history,” said Jay Bearden, CEO and President of Legend Bank. “We’re proud to carry that legacy forward together. As a locally-owned, community bank focused on our employees, customers and communities, we have a similar DNA. We share many of the same values, from investing in our people to putting customers first. From our earliest conversations, it was clear there was strong alignment in how we think and operate. Both of our organizations were founded on trust, lasting relationships, and a genuine passion for serving others. That shared heart is what makes this a great fit.”
“We were intentional in choosing a partner that shares our community banking values and understands the importance of local service,” said Codie Hedge, President & CEO, Senior Lender, Graham Savings and Loan. “With similar small-town roots, we believe Legend Bank is well positioned to help carry our legacy forward while preserving what matters most to our customers and employees. This agreement reflects what has always been at the heart of our organization, taking care of our customers, supporting our team, and investing in the places we call home. We’re confident this partnership will allow us to continue delivering the relationship-focused service our customers expect, strengthened by additional resources and continued support for our communities.”
The transaction has been unanimously approved by the Boards of Directors of both companies. It remains subject to customary shareholder and regulatory approvals and is expected to close later this fall, with the bank merger and full conversion occurring in the spring of next year.
What customers can expect
Legend Bank and Graham Savings and Loan are aligned in their community banking approach, focused on relationships, responsiveness, and delivering products and services that fit the needs of local families, businesses, and organizations. Customers can expect continued service and support from the Graham Savings bankers and staff they know and trust throughout the transition process. More information is available online at https://www.legend.bank/about-us/legend-bank-to-acquire-graham-savings-bank/ and additional updates will be shared when available.
About Legend Bank
Legend Bank is a Texas-based community bank founded in 1890, headquartered in Bowie, focused on enriching the lives of its stakeholders by providing Legendary financial services and resources. Legend Bank has 13 full-service branch locations and two loan offices throughout North Texas with total assets of over $1.2 billion. Legend Bank serves the people and businesses in and around Bowie, Alvord, Decatur, North Richland Hills, Fort Worth, Weatherford, Henrietta, Wichita Falls, Nocona, Whitesboro, Sherman, Bonham, Cooper, Paris and Whitewright.
About Graham Savings and Loan
Founded in 1934, Graham Savings and Loan has served generations of families, businesses, and communities across Graham, Breckenridge, and Possum Kingdom with a commitment to relationship-focused community banking. Locally owned for more than 90 years, the bank has built its reputation on trusted service, local decision making, and strong community involvement. Guided by values of integrity, personal service, and community commitment, Graham Savings and Loan remains dedicated to helping customers, employees, and local communities grow and succeed.
Hunton Andrews Kurth LLP served as legal counsel to Legend Bank and The Bank Advisory Group served as financial advisor. Bradley Arant Boult Cummings LLP served as legal counsel to Graham Savings and Loan and Hillworth Securities, LLC served as financial advisor.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward‑looking statements, including but not limited to statements regarding the proposed transaction, the business of Legend Bank and other matters. Any statements about our expectations, beliefs, plans, predictions, protections, forecasts, objectives, assumptions, or future events or performance are not historical facts and may be forward‑looking statements. Forward‑looking statements are typically, but not exclusively, identified by the use of forward‑looking terminology such as “believes,” “expects,” “could,” “may,” “will,” “should,” “seeks,” “likely,” “intends,” “plans,” “pro forma,” “projects,” “estimates,” or “anticipates,” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters.
Forward‑looking statements are subject to risks and uncertainties and are not guarantees of future performance, and actual results may differ materially from those expressed or contemplated by the particular forward‑looking statement. Therefore, you are cautioned not to place undue reliance on such statements. Further, any forward‑looking statement speaks only as of the date on which it is made, and neither Legend Bank nor Graham Savings and Loan undertakes any obligation to update any forward‑looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law.
Legend Bank announced it has entered into a definitive agreement to acquire Graham Savings and Loan, a Texas community bank founded in 1934 and headquartered in Graham, Texas.
Both banks share a commitment to personal service, strong relationships, and community banking. This partnership allows us to continue serving customers with the same care and local focus they expect.
You can expect continued service and support from your Graham Savings and Loan bankers that you know and trust as the process moves forward. Your accounts, relationships, and local service remain in place. Graham Savings and Loan commitment to personal service and putting customers first does not change. There are no immediate changes to how you bank day‑to‑day.
Yes. Legend Bank deposits are FDIC-insured up to $250,000 per depositor for each account ownership category. Your deposits will remain FDIC-insured, and the safety of accounts is not affected by this announcement. However, if you already have accounts with Legend Bank, your balances will be combined with any of your Graham Savings and Loan deposits for purposes of FDIC insurance coverage limits after conversion. To learn more about FDIC coverage click here: https://www.legend.bank/resource-center/fdic-coverage/
If you are interested in access to millions in aggregate FDIC Insurance, we can help! With ICS, the IntraFi Cash Service and CDARS, the Certificate of Deposit Account Registry Service,® you can enjoy the safety and simplicity that comes with access to multimillion-dollar FDIC insurance through a single relationship with Legend Bank. Simply choose the service or combination of services that offer the returns and access to funds you seek.
Institutions like ours that offer ICS and CDARS, are members of the IntraFi network. When we place your funds through the ICS or CDARS service, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The funds are then placed in demand deposit accounts or money market deposit accounts (using ICS) or in CDs (using CDARS) at multiple banks. As a result, you can access coverage from many institutions while working directly with just one.
You receive one monthly statement from our bank for each service in which you participate, and your confidential information is protected as always.
Deposit placement through ICS and CDARS is subject to the terms, conditions, and disclosures in applicable agreements. Deposits that are placed through ICS and CDARS at FDIC-insured banks in IntraFi’s network are eligible for FDIC deposit insurance coverage at the network banks. The depositor may exclude banks from eligibility to receive its funds. To meet conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-iInsured banks in IntraFi’s network that hold deposits placed using ICS and CDARS are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA before settlement for deposits or after settlement for withdrawals. The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through ICS and CDARS satisfies any restrictions on its deposits. ICS, IntraFi Cash Service, and CDARS are registered service marks of IntraFi LLC.
Yes! If you are interested in access to millions in aggregate FDIC Insurance, we can help! With ICS, the IntraFi Cash Service and CDARS, the Certificate of Deposit Account Registry Service,® you can enjoy the safety and simplicity that comes with access to multimillion-dollar FDIC insurance through a single relationship with Legend Bank. Simply choose the service or combination of services that offer the returns and access to funds you seek.
Institutions like ours that offer ICS and CDARS, are members of the IntraFi network. When we place your funds through ICS or CDARS service, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The funds are then placed in demand deposit accounts or money market deposit accounts (using ICS) or in CDs (using CDARS) at multiple banks. As a result, you can access coverage from many institutions while working directly with just one.
You receive one monthly statement from our bank for each service in which you participate, and your confidential information is protected as always.
Deposit placement through ICS and CDARS is subject to the terms, conditions, and disclosures in applicable agreements. Deposits that are placed through ICS and CDARS at FDIC-insured banks in IntraFi’s network are eligible for FDIC deposit insurance coverage at the network banks. The depositor may exclude banks from eligibility to receive its funds. To meet conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-iInsured banks in IntraFi’s network that hold deposits placed using ICS and CDARS are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA before settlement for deposits or after settlement for withdrawals. The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through ICS and CDARS satisfies any restrictions on its deposits. ICS, IntraFi Cash Service, and CDARS are registered service marks of IntraFi LLC.
The transaction has been approved by both Boards of Directors and remains subject to customary shareholder and regulatory approvals. It is expected to close later this fall, with full conversion in the spring of next year.
You can expect continued service and support from the Graham Savings and Loan bankers you know and trust as the process moves forward.
Over time, Graham Savings and Loan customers will benefit from additional products, resources, and technology improvements to make banking more convenient, while keeping a community-bank approach. Any changes will be communicated clearly and well in advance.
Legend Bank is proud to welcome Graham Savings and Loan into the Legend Bank family. This partnership strengthens Legend Bank while staying true to its community-bank roots and supports continued investment in customers, employees, and communities.
Updates will be shared on this page as they are available.
Yes, there will be no closures for the Graham Savings and Loan locations.
Not just yet. For now, Graham Savings and Loan customers should continue using their current locations for deposits and everyday banking needs during the transition.
When the transition is complete, customers will officially join the Legend Bank family and gain access to all Legend Bank branches and ATMs. With 13 full-service locations and two loan offices, we’ll be ready to serve you across our communities. We’ll share updates here as timing is finalized.
Not just yet. During the transition, Legend Bank customers will continue banking at their current locations for deposits and everyday transactions.
Once the transition is complete, Legend Bank customers will enjoy expanded branch access with three additional branch locations through Graham Savings and Loan, making it even more convenient to bank with Legend Bank in person. We’ll share updates and timing details here as they become available.
Yes. Local decision‑making is a shared priority for both banks and remains an important part of how we serve our customers and communities.
Legend Bank has proudly served North Texas communities since 1890, building a strong legacy of trust, stability, and personalized service. With deep roots in the communities we serve, we remain committed to helping our neighbors thrive—supporting families, businesses, and local organizations with the same care and dedication that has guided us for generations.
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