Incommons Bank in Mexia, Texas, has agreed to buy two branches from Allegiance Bancshares in Houston.

The $116 million-asset Incommons will buy branches in the Texas communities of Mart and Rosebud, along with certain assets and liabilities, the $2 billion-asset Allegiance disclosed in a regulatory filing.

The branches, gained through Allegiance's purchase of Farmers and Merchant Bancshares, have $27 million in loans and $30 million in deposits, Frank Barlow, an analyst at Keefe, Bruyette and Woods, estimated in a note to clients.

The branch sale is expected to close in the first quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.