Investar Bank today announced plans to acquire two branch locations from Dallas-based PlainsCapital Bank.
The branches are located in Victoria and Alice, Texas, and through the deal, Investar will be acquiring $42 million in deposits and $52 million in loans as well as approximately $2 million in property and equipment.
The acquisition is expected to close in the first quarter of 2020, although Investar declined to release any financial details of the deal. The move further expands Investar’s footprint in Texas and complements its recent purchase of Mainland Bank in Houston.
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