Bancorp South Bank Completes Deal for Texas First Bancshares

https://dailyalts.com/wp-content/uploads/2019/08/Community-Banking.jpg

The deal creates a new firm with $21 billion in assets.

Bancorp South Bank announced the completion of its acquisition of Texas First Bancshares, the parent company of Texas First State Bank.

Following the deal, Bancorp South now has $21 billion in assets. It operates approximately 310 full-service branch locations as well as additional mortgage, insurance, and loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee, and Texas. It also has an insurance location in Illinois.

Bancorp South Bank and Texas First State

Before the completion of the merger, Texas First operated 27 branches with total assets of $391.3 million. It also had total loans of $162.6 million and total deposits of $356.6 million. The merger will expand BancorpSouth’s presence in Central Texas. It will also provide opportunities for continued expansion along the rapidly growing I-35 corridor between Austin, Texas and Dallas/Fort Worth, Texas.

“We’re delighted to announce the completion of our merger with Texas First,” said BancorpSouth chairman and CEO Dan Rollins. “Both of our banks share similar philosophies and a strong commitment to our customers and communities. This is a positive step in our growth strategy, and we’re excited to welcome Texas First’s customers and teammates to BancorpSouth and expand our geographic footprint.”

Bancorp Souths Board of Directors also announced last month that BancorpSouth Bank had authorized a new share repurchase program. The firm will purchase up to an aggregate of eight million shares of BancorpSouth’s common stock. This new share repurchase program will become effective January 2, 2020, and will expire on December 31, 2020.

Related: Community Banking: Cambridge Financial Group Will Buy Melrose Bancorp

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/06/justice-gba45571bc_640.jpg
Digital Assets: Grayscale Protests SEC Rejection Of Spot Bitcoin ETF, Files Suit Against Regulator
June 30, 2022     Digital Assets, Latest News, News, Regulations

Grayscale Investments, the largest digital asset manager globally, has filed a suit against the SEC for rejecting its application to convert the Grayscale Bitcoin Trust into a spot bitcoin ETF….

https://dailyalts.com/wp-content/uploads/2022/06/Twelve-sunglasses.png
Venture Capital/ESG: Twelve Raises $130M For World’s First Carbon Transformation Platform

Twelve has raised a $130 million Series B round to scale up its carbon transformation technology that converts captured CO2 into products traditionally made from fossil fuels. The firm’s technology…

https://dailyalts.com/wp-content/uploads/2022/06/amc-g39f4f8446_640-overlay.png
FinTech: Sam Bankman-Fried Of FTX Rejects Rumors He Is Acquiring Robinhood
June 30, 2022     Digital Assets, FinTech, News

FTX, the crypto platform owned by billionaire Sam Bankman-Fried, has scotched media reports that it was pursuing a deal to acquire commission-free trading app Robinhood (NASDAQ: HOOD). Bloomberg said Monday…

https://dailyalts.com/wp-content/uploads/2022/06/bitcoin-g9a41d1d1c_640-overlay.png
Alternative Investments/Digital: Amidst A Crypto Winter, 21Shares Launches The World’s Cheapest Physically Backed Bitcoin ETP

21Shares AG has launched a bitcoin ETP tailor-made for today’s crypto market, one that has been mauled by rampaging bears and gripped by a “crypto winter.” The 21Shares Bitcoin Core…