Guaranty Bancshares in Mount Pleasant, Texas, has agreed to buy Texas Leadership Bank in Royse City.
The $1.3 billion-asset Guaranty did not disclose how much it would pay for the $75 million-asset Texas Leadership. The merger is expected to close at the end of the first quarter, while a formal conversion will occur in July. All Texas Leadership employees will join Guaranty when the deal is completed.
"Texas Leadership provides Guaranty with a strategic partner in our efforts to expand our footprint into Rockwall County and grow our Texas banking franchise," Ty Abston, Guaranty's chairman and chief executive, said in a press release last week.
Doyle Cooper, executive vice president of Texas Leadership, will serve as the market president for Royse City.
Guaranty has 20 branches in Texas.
Commerce Street Capital advised Texas Leadership.