First Financial Bankshares in Abilene, Texas, has agreed to buy 4Trust Mortgage.
The $5.8 billion-asset First Financial said in a press release Wednesday that it would pay $1.9 million in cash for 4Trust. the deal should close next month.
First Financial is buying a residential mortgage lender that has three offices in the Texas cities of Fort Worth, Dallas and North Richland Hills. Last year, 4Trust originated about $175 million in mortgages that were then sold in the secondary market.
Troy Fore, 4Trusts president and chief executive, would become president of First Financial Mortgage and will be responsible for all of the banks mortgage lending.
First Financial agreed earlier this month to buy FBC Bancshares in Conroe, Texas, for $59 million in stock.