Compass' Texas Unit to Buy Three Branches in San Antonio

Compass Bancshares said it has signed a definitive agreement to purchase three San Antonio bank offices from Coastal Banc Savings for cash.

Terms were not disclosed.

In a related transaction, Compass said it will sell its Bay City, Tex.- based bank office to Coastal.

Compass said the purchase adds $58 million in assets and $58 million in deposits to its Compass Bank-San Antonio unit.

The transaction is subject to regulatory approval.

Coastal Banc is a unit of Coastal Bancorp, based in Houston.

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