Coastal Bend Bancshares in Corpus Christi, Texas, has agreed to buy First National Bank in Port Lavaca, Texas. The parent of the $661.7 million-asset First Community Bank said in a press release that it expects to buy the $381.3 million-asset First National in the second quarter. The price wasn’t disclosed.
Points West Community Bank in Windsor, Colorado, has agreed to buy State Bank of Downs in Downs, Kansas. The $833.8 million-asset Points West applied with the FDIC on April 13 to buy the $140.3 million-asset State Bank. The price wasn’t disclosed.
Catalyst Bancorp in Opelousas, Louisiana, has agreed to buy Lakeside Bancshares in Lake Charles, Louisiana. The $282.9 million-asset Catalyst said in a press release that it will pay $41.1 million in cash for the $385.7 million-asset Lakeside. The deal, which is expected to close in the third quarter, priced Lakeside at 113.9% of its tangible book value.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
