April 4–10, 2021

Mergers and Acquisitions The OCC reports that it has approved an application by Lone Star Capital Bank National Association, based in San Antonio, to acquire Business Bank of Texas National Association, based in Austin. Branches The OCC reports that it has approved an application by Wells Fargo Bank National Association, based in Sioux Falls, South Dakota, to establish a … Read more

Spirit of Texas Bancshares Completes Sale of Jacksboro Branch to First State Bank

Conroe-based Spirit of Texas Bancshares Inc., the holding company for Spirit of Texas Bank, announced that on January 8 it completed the previously announced sale of its Jacksboro location to Graham-based First State Bank. Under the terms of the transaction, the bank sold loans of approximately $3.5 million, deposits of approximately $5.7 million and the real … Read more

Peoples Bancorp to Acquire Baylor Bancshares/First Bank & Trust

Lubbock-based Peoples Bancorp Inc. and its wholly owned subsidiary, Peoples Bank, announced the signing of a definitive agreement on December 30 to acquire Seymour-based Baylor Bancshares Inc. and its subsidiaries, First Bank & Trust and Baylor Mortgage Co. Inc. The acquisition is expected to close in the second quarter of 2021. As of September 30, … Read more

Lone Star Capital Bank Announces Agreement to Acquire Business Bank of Texas

San Antonio-based Lone Star Capital Bank NA has entered into a purchase-and-assumption agreement for substantially all of the assets, deposits and certain other liabilities of Austin-based Business Bank of Texas NA. The acquisition is expected to be completed early in the second quarter of 2021. Established in 2007, Business Bank of Texas has total assets of … Read more

VeraBank Announces Intent to Acquire Panola National Bank

Henderson-based VeraBank announced on December 18 that it has entered into an agreement to acquire Carthage-based Panola National Bank. Established in 1983, Panola National Bank has two locations, Carthage and Marshall, and assets totaling $125 million. This transaction will expand VeraBank into Panola County for the first time and increase its presence in East Texas. Subject … Read more

Happy State Bank to Acquire First National Bank of Tahoka

On December 11, J. Pat Hickman, chairman of Amarillo-based Happy State Bank, and Frederick B. Hegi Jr., chairman of Tahoka-based First National Bank of Tahoka (FNB), announced that Happy State Bank is acquiring First National Bank of Tahoka through a merger. FNB Tahoka holds approximately $56 million in total assets and has one location in … Read more

Commericial State Bank’s Grist Acquires Controlling Interest in West Texas State Bank

On November 30, longtime West Texas banker John E. Grist acquired a controlling interest in Snyder-based West Texas State Bank, according to the Odessa American. Grist assumed the positions of chairman and chief executive officer. Mark Williamson will remain as president and continue to serve on the board, while Darryl Calley will continue to serve as executive vice … Read more

Mississippi-Based BancorpSouth Bank to Acquire National United Bancshares

On December 2, Tupelo, Mississippi-based BancorpSouth Bank announced the signing of a definitive merger agreement with National United Bancshares Inc., the parent company of Gatesville-based National United, pursuant to which National United will be merged with and into BancorpSouth. The merger is anticipated to close during the first half of 2021. National United, established in 1889, … Read more

Bank Mergers and Acquisitions: Outlook and Review in the Middle of Uncertainty

The spread of the coronavirus presents considerable risks to the world economy in general and the banking industry specifically. By some estimates, China saw economic activity cut in half as it worked to treat those infected by the virus and control its spread. World economic activity may rebound quickly if the virus is effectively contained, … Read more