Texas United Bancshares Inc. of La Grange said Tuesday that its third-quarter net income surged 72.3% from a year earlier, to $2.7 million.
Diluted earnings per share totaled 34 cents, up 17.2% but missing the average of analysts' estimates by 2 cents.
For the nine months, net income rose 75.4%, to $8.1 million, and diluted earnings per share rose 2%, to $1.02.
The $1.3 billion-asset company attributed the earnings rise to two 2004 acquisitions: two branches it bought for $8 million in the third quarter from the $238 million-asset Central Bancshares Inc. of Houston; and the $224 million-asset GNB Bancshares Inc. of Gainesville, Tex., for which it paid $44.7 million in the fourth quarter.
Two acquisitions are pending: a $41 million deal announced in May for the $221 million-asset Gateway Holding Co. Inc. of Dallas and a $9 million deal announced in October for the $44.7 million-asset Express Bank of Texas in Round Rock.
