News release provided by Victory Bank May 13, 2026
LUBBOCK, Texas – Victory Bank today announced it has entered a definitive agreement to acquire a 40% ownership stake in McDonald Capital Management (MCM), a Lubbock-based, fee-only investment management firm with more than $350 million in assets under management. The agreement, pending regulatory approval, marks Victory Bank’s formal entry into wealth management and establishes a strategic alignment between two independently operated West Texas firms that have long shared clients, values, and a common vision for how financial services should be delivered.
For Victory Bank customers, the agreement creates a direct line to fiduciary wealth management through a well-established firm. For McDonald Capital Management clients, it reinforces the institutional footing of the firm they already work with. Neither firm is absorbing the other.
“We are excited to see this true partnership come to fruition with Eric, Jeff, and Tyler,” said C. Brett McDowell, Victory Bank co-founder and CEO. “Our significant investment in McDonald Capital Management is a testament to both our strategic focus as well as our non-linear approach to building a durable, high-performing, Texas banking enterprise. This is another big step in showing that we are genuinely doing things Different AND Better, as we like to say.”
McDonald Capital Management will retain operational independence under the agreement. Founder Eric McDonald and MCM leadership will hold 60% ownership and direct all investment decisions, client relationships, and day-to-day operations. The firm will continue operating under the McDonald Capital Management name.
“My goal was to build a quarter-billion-dollar investment firm right here in Lubbock,” said McDonald. “Thirty-six years later, we have achieved that and more, and now we have expanded that vision through our relationship with Victory Bank. This is the natural next step for a firm that has always believed West Texas investors deserve institutional-quality management.”
FEE-ONLY. FIDUCIARY. BUILT FOR WEST TEXAS.
McDonald Capital Management was established in 1990 with the founding principle to operate exclusively on a fee-only basis, with no commissions, no product sales incentives, and a legal fiduciary obligation to act in the best interest of its clients at all times. That model does not change under this agreement.
“Some bank-affiliated wealth management programs in the region operate through broker-dealer arrangements with national firms, where advisors may receive commissions on the products they recommend,” said McDowell. “Victory Bank’s alignment with McDonald Capital Management takes a fundamentally different approach, one in which the wealth manager’s only financial interests are aligned with client success.
“We handle the banking. They handle the investments, and our clients get a real wealth manager with a 36-year track record.”
TWO FIRMS. ONE DIRECTION.
The principals of Victory Bank and McDonald Capital Management have shared clients and mutual respect for nearly two decades. The agreement formalizes what has been a natural process, as both organizations are West Texas-rooted, relationship-driven, and oriented toward the long-term success of the business owners and families they serve.
The strategic fit extends to client profile. Victory Bank has built its business banking practice around the full arc of business ownership, from early-stage entrepreneurs to established operators approaching succession. McDonald Capital Management specializes in precisely the moment that follows – managing and growing the wealth that a life’s work produces. Together, the two firms are positioned to accompany a client through the entire financial life cycle.
MCM will be available to Victory Bank customers seeking thoughtful, personalized investment management. McDonald Capital Management’s existing clients are not expected to experience changes in their service, their team, or their firm’s independence. For both sets of clients, the day-to-day experience remains the same.
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ABOUT VICTORY BANK
Victory Bank is a Texas state-chartered community bank headquartered in Lubbock, Texas, serving customers across West Texas through locations in Lubbock, Abilene, the Big Country, and the Hill Country. Founded on the principle that banking should be high tech, high touch, and high trust, Victory Bank serves businesses, entrepreneurs, and individuals at every stage of growth.
ABOUT MCDONALD CAPITAL MANAGEMENT
McDonald Capital Management (Islay Capital Management LLC dba McDonald Capital Management) is a fee-only investment management firm founded in Lubbock, Texas, in 1990. With more than $350 million in assets under management, the firm delivers institutional-quality portfolio management to individuals, families, and businesses across West Texas and beyond. McDonald Capital Management operates as a fee-only fiduciary with no commissions.
Disclosures:
Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.
While the firms Victory Bank and McDonald Capital Management operate independently, the ownership relationship may create incentives for client referrals, and both firms are committed to acting in clients’ best interests. Clients are not obligated to use either McDonald Capital Management or Victory Bank and may choose any investment adviser or financial institution.
Investment products and services offered by McDonald Capital Management are not FDIC insured and not bank guaranteed.
Investment services are not provided by Victory Bank.
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