Keystone Bank raises another 8-figure sum as it aims for $1B in assets

AUSTIN (Austin Business Journal) — Austin-based Keystone Bank SSB has raised $18 million to fuel growth at the upstart financial institution.

The new funding will be used to expand its team, enhance its banking technology, eye potential acquisitions and, executives at the 4-year-old community bank hope, put it on track to managing more than $1 billion in assets within two years.

That would put it in rarified company. Only two locally headquartered banks had assets of at least $1 billion as of mid-2021, Horizon Bank and Pioneer Bank, which was later acquired by Sunflower Bank.