in a nearby county where it is already making loans.
Victoria-based FVNB said it would buy Mid-Coast Savings Bank for an undisclosed price. Mid-Coast, based in Edna, has two branches and $42 million of assets.
David M. Gaddis, president and chief executive officer of FVNB, said the deal would let his bank "more conveniently" serve the farmers and ranchers of Jackson County, where Mid-Coast is based. His company has been courting the farmers there for a number of years, he said.
Terms of the deal call for Mid-Coast to be merged into FVNB's First Victoria National Bank subsidiary. FVNB, which has $611 million of assets, also owns $91 million-asset Citizens Savings Bank of Texas, a three-branch bank based in Walker.
The deal is expected to close in the first quarter.
-- Louis Whiteman