Prosperity Bancshares Inc. in Houston said it has a deal to buy Bank of Navasota, with $73 million of assets, for $17.4 million in cash and stock.
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The deal, announced late Tuesday, would bridge a gap in Prosperity's footprint by adding a branch in Navasota, between Hempstead and College Station, Tex., where the $6.3 billion-asset Prosperity has branches. The deal would add $63.6 million of deposits and $33.6 million of loans to Prosperity's books. Prosperity said that it would retain Bank of Navasota's management.
