First United Bancshares, which has a toehold across the border in Texas, has a deal to increase its presence there.
The $1.6 billion-asset company said it plans to acquire Fredonia Bancshares, the holding company for Nacogdoches-based Fredonia State Bank. The bank has $245 million of assets and two branches, one in Garrison and another in Alto.
Terms of the deal were not disclosed.
First United has two other acquisition deals pending-for $60 million- asset City Bank and Trust in Shreveport, La., and $263 million-asset Citizens National Bancshares in Hope, Ark.
First United's eight banks and its First United Trust Co. serve 27 communities in Arkansas and Texas.
PFF is the holding company for PFF Bank and Trust, which has 23 branches and three trust offices.