June 28, 2025

Truist Bank’s Strategic Expansion in Texas Amid Challenges

News Summary

In Dallas-Fort Worth, Truist Bank is making bold moves to expand its local presence under new leadership. Despite a 17% drop in regional deposits, the bank is focused on community engagement and innovative growth strategies. As competition increases, Truist aims to enhance its footprint and adapt to the evolving banking landscape in Texas, even amid recent challenges, including a high-profile bank robbery case that underscores trust issues in the industry.

Texas – Truist Bank is making significant strides in the Dallas-Fort Worth area as it identifies Texas as a crucial market for expansion. The regional bank appointed DeVon Lang as its local leader in 2023, aiming to attract new clients and grow its branch presence in the region. This move comes in response to a substantial decline in deposits across the Dallas-Fort Worth area, which saw a decrease of over 17% year-over-year by the end of the second quarter of 2023.

Data revealed that by June 30, 2023, the total deposits in the Dallas-Fort Worth region had fallen to $714.7 billion, down from $861.9 billion the previous year. Despite these declines, some banks within the area reported increased deposits. Among them, Bank of America retains its position as the biggest local bank, boasting $135.9 billion in deposits, which accounts for a 17.4% market share. In second place is JPMorgan Chase, with deposits totaling $91.1 billion, followed by Wells Fargo with $24.5 billion.

In an interesting development, Dallas-based Comerica Bank has nearly doubled its deposits to $13.9 billion, moving up to the fourth position among local banks. Meanwhile, Texas Capital Bank, which is currently undergoing a transformation under CEO Rob Holmes, has dropped to fifth place with $13 billion in deposits. Other banks, including Veritex Community Bank and Independent Financial, are also targeting significant growth in the years ahead.

Truist Bank’s growth strategy aligns with its movement into the top 15 local banks, as it has seen an increase in deposits by over 26%, totaling $4 billion. This highlights a trend of out-of-state banks successfully penetrating the Texas market, even amidst a general decline in local bank deposits.

Compounding the banking scenario, a recent crime wave in the area has turned attention toward bank security. A man named Taurick Demon Walker, aged 43, was recently sentenced to over 10 years in federal prison after being convicted of robbing three banks while on supervised release for a previous robbery conviction. Walker, who had a prior conviction for bank robbery in March 2018 and had served six years before being released in March 2023, was charged with his most recent crimes in August 2023 and subsequently indicted the following month.

On August 10, 2023, Walker robbed a Regions Bank in Irving, demanding cash from the teller. Just eight days later, he committed two additional bank robberies at Truist Bank in Dallas and Wells Fargo in Garland. During those incidents, he used notes to indicate the amount he sought, stating “Bank Robbery 20,000.” His modus operandi prompted investigators to utilize Flock license plate readers to connect him to the crimes. A family member eventually recognized a distinctive cowboy hat that Walker was seen wearing during the robberies, which aided in the investigation.

The FBI’s Dallas Field Office, in partnership with local police departments, conducted a thorough investigation into Walker’s criminal activities. The series of events has drawn attention to the security measures that banks may need to adopt as they navigate the dual challenges of declining deposits and increased criminal activity.

As the banking landscape in Texas continues to evolve amid economic challenges, the Dallas Business Journal is set to recognize regional C-Suite leaders in 2025 for their performance, innovation, and leadership, highlighting the ever-changing dynamics within the industry. Companies are also taking an interest in Class A office space in Fort Worth, suggesting a renewed focus on property investments and business growth opportunities in the post-pandemic landscape.

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Author: STAFF HERE GEORGETOWN

The GEORGETOWN STAFF WRITER represents the experienced team at HEREgeorgetown.com, your go-to source for actionable local news and information in Georgetown, Williamson County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Red Poppy Festival, Georgetown Swirl, and Christmas Stroll. Our coverage extends to key organizations like the Georgetown Chamber of Commerce and the Downtown Georgetown Association, plus leading businesses in manufacturing and tourism that power the local economy such as local wineries and historic downtown shops. As part of the broader HERE network, including HEREaustin.com, HEREcollegestation.com, HEREdallas.com, HEREhouston.com, HEREgeorgetown.com, and HEREsanantonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.