M&A News: VisionBank of Iowa to buy Legacy Bank

VisionBank of Iowa in Ames has agreed to buy Legacy Bank in Altoona, Iowa. The $595 million-asset VisionBank said in a press release that it expects to complete the purchase of the $176 million-asset Legacy in late 2022. The price wasn’t disclosed.

Meanwhile, Texas Brand Bank in Dallas and Harmony Bank in Kemp, Texas, have agreed to merge. The $330 million-asset Texas Brand Bank plans to adopt the $350 million-asset Harmony Bank’s name. The price wasn’t disclosed.

© 2022 by Paul Davis. All rights reserved. Reprinted with permission as an adaptation of the material from bank-slate.blogspot.com.

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About Author

Contributing Editor Paul Davis, founder of Bank Slate and director of market intelligence at Strategic Resource Management, has more than 20 years of experience following the banking industry. Prior to joining SRM, an advisory firm in Memphis, Tennessee, he was editor for community banking and M&A at American Banker. He has held leadership positions at SNL Financial, where he was news editor and senior bank reporter, and American City Business Journals. Paul joined American Banker in 2005, covering large banks during the financial crisis and the post-crisis recovery. Paul has been featured as a speaker at the Federal Reserve, the ABA and FIS Global, and he has been regularly quoted by American Banker, S&P Global Market Intelligence and Bank Director. He has a bachelor’s degree from the University of Virginia and an MBA from Wake Forest University.