WestStar Bank in El Paso, Texas, is planning to merge with First National Bank in El Paso.
The banks said in a press release Friday that the merger will create an institution with $1.5 billion in assets, $1.3 billion in deposits, $1 billion in loans with 17 branches. Financial terms of the merger, which is expected to close in the fourth quarter, were not disclosed.
"Our respective organizations share a similar culture and approach to community banking which we believe will provide enhanced opportunities for the combined bank to better serve our communities and provide a rewarding experience for our employees," L. Frederick Francis, WestStar's executive chairman, said in the release. "Together we will offer more value to our shareholders by providing high-performing business units such as trust, mortgage and title services."
