Community banking

In Brief: Equity of Tex. Selling Branches

Published August 24, 2006, 1:00 a.m. EDT

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Updated August 23, 2006, 5:33 p.m. EDT

1 Min Read

The Franklin Bank name is returning to two cities in northeastern Texas.

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Two years after buying Franklin National Bank in Mount Vernon, the $111 million-asset Equity Bank in Dallas has a deal to sell the two former Franklin branches to the $5.1 billion-asset Franklin Bank Corp. in Houston. Franklin Bank Corp. said Tuesday that it expects to complete the deal for the branches, in Mount Vernon and Winnsboro, next quarter.

The branches would come with a combined $40.7 million of deposits and $4.9 million of loans.

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