A $417 million-asset Houston bank holding company said Friday that it has been working with an investment adviser to pursue a possible sale.
CNBT Bancshares Inc. confirmed that it received an overture this year from a larger bank. That prompted it to hire Alex Sheshunoff & Co. Investment Banking of Austin, Tex., to search for other prospective buyers.
Before the announcement, CNBT's stock rose on rumors that it was about to be sold. It was trading at $14.56 midday Friday, against $9 in late April.
Since hiring Sheshunoff, CNBT has received inquiries from "a number of interested parties," said CNBT president Ralph Williams.
