BIRMINGHAM, Ala. -- Compass Brancshares Inc. said it completed the acquisition of $77 millon-asset Security Bank in Houston, which increases the Alabama-based company's Texas assets to more than $2 billion.
Security Bank's three key locations in the growing Southwest and Galleria areas of Houston brought Compass' Texas offices to 38. Security was merged into Compass Bank-Houston.
Compass, which has $7.7 billion of total assets and 155 offices in Alabama, Florida, and Texas, announced a defective agreement last month to acquire $885 million in deposits and certain assets of First Heights Bank in the Houston area, which will be its largest Texas transaction.
