Henderson Citizens Bancshares in Texas announced an acquisition that should push its assets above $1 billion.
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The $945 million-asset parent of Citizens National Bank said Monday that it will buy the $78 million-asset First White Oak Bancshares. The company did not disclose the pricing for the deal, which should close by Dec. 31.
The deal adds two branches in Gregg County, where Citizens National already has three branches.
First White Oak is a very healthy bank. At June 30, it had no noncurrent loans and a return on equity of 16.13%. Its second quarter earnings rose 17% from a year earlier, to $229,000.
