ST. LOUIS - Jefferson Savings Bancorp completed its third acquisition in Texas with its purchase of Shelby-Panola Savings Association, Carthage. This deal follows the acquisition by Jefferson of North Texas Savings and Loan Association, Denton, and First Federal Savings Bank of Longview, on May 31.

The three Texas institutions have been consolidated under a single federal charter and will operate under the common name of First Federal Savings Bank of North Texas. The primary focus of the new institution will continue to be retail banking, with an emphasis on residential mortgage lending.

With its completed acquisition of Shelby and its previous acquisitions of North Texas and Longview, Jefferson is a $1.2 billion holding company with two thrift subsidiaries.

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