ALAMO — Freedom Bank, a community bank based in Alamo, wants to grow its presence in McAllen.
The bank submitted applications Saturday to the Federal Deposit Insurance Corporation and the Texas Department of Banking to open a branch at 100 S. Expressway 83. If approved, it would be the bank’s second location in McAllen and its sixth branch overall.
Freedom Bank traces its roots to 1958 and has expanded over the years through mergers and name changes. Today, the bank — led by CEO Arturo Ortega — operates branches in Alamo, Edinburg, Freer, McAllen, and San Diego, state records show.
The FDIC will accept public comments on the proposal for 15 days, either online at cra.fdic.gov or by mail to its Dallas regional office. The Texas Department of Banking will also take comments for 14 days. Anyone wishing to protest formally must include a $2,500 filing fee; however, this fee can be waived in cases of hardship.
Naxi Lopez-Puente
Editor
Naxiely López, managing editor of the Rio Grande Valley Business Journal, is a veteran Valley journalist who reported and served as metro editor at The Monitor. She later led programs and partnerships at Mission EDC, giving her on-the-ground insight into regional growth. A Valley native raised in South Texas, she brings a deep working knowledge of how the RGV does business.
Most Read
- Is SpaceX quietly building a data center at Starbase? Job postings offer clues
- Developers begin $12M master-planned community near Rio Grande City
- Edinburg ISD rejects nearly $6M offer for prime land near La Sienna despite $15M budget deficit
- A little MySpace, a little AOL: Valleyites help grow new social media platform
- Dickey’s Barbecue Pit to open new McAllen location inside Cambria Hotel
Get the latest business news delivered to your inbox every morning for free.
Try 30 Days Free!
Get full access to award-winning journalism covering business, real estate, health care, economic trends, and the people shaping the Rio Grande Valley.
30 Days Free!
$9.95/month
Limited time offer
Subscription renews after your 30 day free trial at $9.95/mo.
Included Benefits
- Unlimited access to all articles
- Daily business news and analysis
- Subscriber-only content and features
Stories That Matter
- Rio Grande Valley hotel occupancy tax receipts show 16% bump through September 2026
- How $164M in water conservation funding could help environmental sustainability in the Rio Grande Valley
- Mission’s first Small Business Expo puts $25K on the line for local entrepreneurs
- SpaceX listed as owner of $12M Starbase City Hall project
- McCoy’s gives $10K, tools to launch Mid-Valley construction academy
- UT Health RGV performs new digestive procedure for first time in the Valley
- TSTC bets on advanced manufacturing to meet RGV’s industrial boom
- Pharr’s cross-border business push earns international recognition
- Brownsville eases drought restrictions after nearly three years as Rio Grande reservoir levels improve
- Texas A&M’s $53.5M McAllen research center will tackle water, food security and Valley health
