Texas Independent to expand in Houston with bank purchase

Texas Independent Bancshares in Texas City has agreed to buy Preferred Bancshares in Houston.

The $1.1 billion-asset Texas Independent said in a press release Monday that it expects to complete the purchase of the $282 million-asset Preferred in the second quarter. It did not disclose the price of the deal.

“As Houston grows, we’re excited to grow with it," Matthew Doyle, Texas Independent's chairman, said in the release. "Keeping the ownership local means that we can continue to make local decisions in the community we call home."

Herb Williams, Preferred’s chairman, will become vice chairman for Texas Independent’s Houston operations. Donald Najvar, Preferred’s president and CEO, will become Houston market president for Texas.

Doyle and Williams

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