Cullen/Frost Bankers Inc. of San Antonio announced it has a deal for Commerce Financial Corp. of Fort Worth. The price was not disclosed.
Buying $189 million-asset Commerce Financial would strengthen Cullen/Frost's presence in the fast-growing Dallas-Fort Worth area. Commerce Financial's subsidiary, Bank of Commerce, operates four branches. They would be folded into Cullen/Frost's Frost National Bank subsidiary after the deal's closing, which is expected in the second quarter.