Continuing its buying spree in the Rio Grande Valley, Texas Regional Bancshares announced plans Wednesday to buy 72-year-old Bank of Texas of Raymondville.

McAllen-based Texas Regional, parent company of Texas State Bank, would pay $9.6 million in cash for Bank of Texas and its holding company, Raymondville Bancorp. Texas Regional's assets total $1.5 billion and Raymondville Bancorp has assets of $64.9 million.

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