On April 28, Bastrop Bancshares Inc., the holding company for Bastrop-based First National Bank of Bastrop, announced that it has entered into an agreement to acquire Columbus Bancorp Inc., the holding company for Columbus-based The First State Bank, for cash consideration. The transaction is expected to close in the third quarter of 2026.
According to a press release, “the combination of Bastrop Bancshares and Columbus Bancorp creates a stronger community banking franchise with an expanded presence across Central Texas.” The transaction is expected to generate meaningful benefits for both institutions, including:
- Enhanced scale and market penetration in Bastrop, Colorado and Falls counties;
- A complementary customer base and loan portfolio with limited overlap;
- Improved operational efficiency and technology investment capacity;
- Enhanced loan and deposit products and locations to better serve communities; and
- Strengthened ability to serve commercial, agricultural and consumer customers throughout Central Texas.
Established in 1913, The First State Bank serves customers throughout Colorado County and Central Texas. As of December 31, 2025, Columbus Bancorp reported total assets of approximately $154.8 million. Upon completion of the merger, the combined institution will have total assets of approximately $1.25 billion, total loans of approximately $750 million and total deposits of approximately $1.1 billion.
“After careful consideration, our board unanimously concluded that partnering with Bastrop Bancshares represents the best path forward for our shareholders, customers and employees,” notes Pat Moeller, chair, president and CEO of Columbus Bancorp Inc. “We are excited to partner with Bastrop Bancshares as we share a common commitment to community banking. We look forward to the opportunities this combination will create.”
“From the beginning of our discussions, it was clear there was strong cultural alignment between our banks and a genuine commitment to both our customers and the communities we serve,” says Stephen Lee, president CEO of Bastrop Bancshares. “Pat Moeller is an incredible community banker, and we are fortunate to have the opportunity to bring him and his incredible team into our bank family. Columbus is a great community with accelerating growth and for more than 113 years. The First State Bank has built an incredible tradition of service and trust.”
Hillworth Bank Partners served as the exclusive financial advisor to Columbus Bancorp in connection with the transaction and issued a fairness opinion. Larry Temple served as legal advisor to Columbus Bancorp and Fenimore Kay Harrison LLP served as legal advisor to Bastrop Bancshares.
Established in 1889, First National Bank of Bastrop serves individuals, businesses and agricultural customers throughout Bastrop and Falls counties. As of March 31, 2026, Bastrop Bancshares reported total assets of approximately $1.1 billion.
