CBFH Inc. of Beaumont, Tex., has agreed to buy Crosby Bancshares.
The price was not disclosed.
The $640 million-asset CBFH, the parent company of CommunityBank of Texas, announced the deal Friday. It would gain eight branches in the eastern end of the Houston metropolitan area and boost its asset size to $1 billion.
CommunityBank has 14 branches, which are concentrated near the Texas-Louisiana border.
The Crosby management team would continue to lead the Harris County branches. Mark Mulloy, Crosby's chief executive officer and vice chairman, would join CommunityBank's board.
