Barnett Banks has agreed to buy BancPlus Financial Corp., a major Texas mortgage bank, for $162 million in cash.

The deal, announced Thursday, marks Barnett's third acquisition of a home loan business in less than a year. It would swell Barnett's mortgage servicing portfolio by about 80%, to $32 billion.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.