Guaranty Bancshares in Mount Pleasant, Texas, has agreed to buy DCB Financial in Dallas.
The acquisition will allow Guaranty to expand its operations in the Dallas-Fort Worth market, where the $119 million-asset DCB - the parent of Preston State Bank - has two branches. The price was not disclosed.
The announcement comes just three days after Guaranty agreed to buy the $75 million-asset Texas Leadership Bank in Royse City, located on the northeastern outskirts of Dallas. Both transactions are expected to close in the first quarter.
The $1.5 billion-asset Guaranty said in a press release Thursday that it plans to consolidate its corporate operations around Dallas area after completing the acquisitions.
"Preston provides Guaranty with a strategic partner in our efforts to expand our bank footprint into the DFW market," Ty Abston, Guaranty's chairman, said in the release.
As part of the agreement, Chuck Cowell, DCB's president and chief executive, will join Guaranty as chairman of its Dallas market.
Guaranty was advised by Sandler O'Neill and Fenimore, Kay, Harrison & Ford. DCB was advised Sheshunoff & Co. and Norton Rose & Fulbright.