Huntington Bancshares in Columbus, Ohio, has agreed to buy Veritex Holdings in Dallas. The $210 billion-asset Huntington said in a news release that it will pay $1.9 billion in stock for the $13 billion-asset Veritex. The deal, which is expected to close in the fourth quarter, priced Veritex at 152% of its tangible book value.
First Community in Lexington, South Carolina, has agreed to buy Signature Bank of Georgia in Sandy Springs. The $2 billion-asset First Community said in a news release that it will pay $41.6 million for the $249 million-asset Signature. The deal, which is expected to close in the first quarter, priced Signature at 121% of its tangible book value.
Civista Bancshares in Sandusky, Ohio, has agreed to buy Farmers Savings Bank in Spencer, Ohio. The $4.1 billion-asset Civista said in a news release that it will pay $56 million in cash and stock for the $285 million-asset Farmers. The deal is expected to close in the fourth quarter.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
