In Brief: Tex.'s First Financial Acquiring Clyde

October 26, 2004, 6:37 p.m. EDT 1 Min Read

First Financial Bankshares Inc. in Abilene, Tex., plans to buy Clyde Financial Corp. for $25.4 million in cash.

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The deal, announced Monday, is the third Texas one that the $2.2 billion-asset First Financial has announced this year. It bought the $60.5 million-asset Liberty National Bank in Granbury in July and expects to close its deal for the $47 million-asset First National Bank in Glen Rose this quarter.

Clyde Financial is the parent of the $113.3 million-asset Peoples State Bank, which would be merged into one of First Financial's 11 banks in west Texas. The deal is expected to close either late December or early in the first quarter.

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