BIRMINGHAM, Ala. -- Compass Bancshares has signed a definitive agreement to purchase the $77 million-asset Security Bank of Houston.
Compass said the acquisition would increase its assets in Texas to nearly $2 billion and the number of bank locations by three to 39. Security would be merged into Compass Bancshares' subsidiary, Compass Bank-Houston. Security has $69 million of deposits and $6 million of capital, the company said.
Compass Bancshares Inc. is a $7.1 billion-asset bank holding company based in Birmingham. It has bank offices in Alabama, Florida, and Texas.
