To expand its presence in Texas, Compass Bancshares has agreed to acquire Austin-based Horizon Bancorp for about $34 million in stock.

The Horizon purchase, which is expected to be completed in the first quarter, would add $143 million in assets and eight Austin bank offices. The transaction is subject to shareholder and regulatory approval.

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.