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Independent Bank Group (IBTX) in McKinney, Texas, has agreed to buy Live Oak Financial Corp. in Dallas.
August 22 -
Independent Bank Group has agreed to buy Collin Bank, the first acquisition for Independent since it raised $87 million in an April initial public offering.
July 19 -
Independent Bank Group in McKinney, Texas, was already a busy buyer. Now with nearly $90 million of fresh equity and a valuable stock, the bank is looking to more than double its size over the next five years.
May 7
In its third acquisition deal this year, Independent Bank Group (IBTX) in McKinney, Texas, has agreed to buy BOH Holdings in Houston.
Independent plans to pay $170 million in cash and stock for the $925 million-asset BOH, the companies announced Thursday. BOH runs six branches in the Houston area and had $747 million of deposits and total equity capital of $94 million as of Sept. 30.
BOH President and Chief Executive James Stein would join Independent's board, as would two additional BOH directors. Stein would also serve as vice chairman and chief executive of Independent's Houston region.
"The acquisition of BOH Holdings marks our entry into the dynamic Houston market and, as a result, Independent Bank now has a significant presence in three of the nation's strongest markets: Dallas, Austin, and Houston," Independent Chairman and Chief Executive David Brooks said in a press release.
The rapidly expanding Independent agreed in August to
The BOH deal is expected to close in the second quarter.
Independent Bank Group was advised by Sterne, Agee & Leach. Haynie Rake Repass & Lowry served as as legal counsel. BOH Holdings was advised by Sandler & O'Neill Partners as financial advisor and Bracewell & Giuliani as legal counsel.
