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06.09.2010

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First Bank to sell Texas branches to Prosperity Bank PDF Print E-mail
Monday, February 08 2010 12:33

First Banks Inc., the parent company of First Bank, has reached a deal to sell its 19 Texas branches to Prosperity Bank, a subsidiary of Prosperity Bancshares Inc. in Houston, after an earlier deal fell through.

Prosperity Bank plans to assume $500 million in deposits associated with First Bank’s 19 Texas retail branches, including certain commercial deposit relationships, for a premium of 5.5 percent.

Story in St. Louis Business Journal

 

 
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