Prosperity Bancshares Inc. in Houston is set to pick up Texas branches that were once owned by FBOP Corp.
The $8.9 billion-asset company announced late Tuesday that it had struck an agreement with U.S. Bancorp for three branches it acquired as part of its Oct. 30 deal for nine failed subsidiaries of FBOP Corp.
Before their conversion to U.S. Bank, the Texas bank branches were known as Madisonville State Bank in Madisonville, Citizens National Bank in Teague and North Houston Bank in Houston.
Prosperity would also assume $420 million in deposits, paying an unspecified premium, and would purchase some loans.
On completing the deal, which is expected to close during the first quarter, Prosperity would have 161 branches in Texas.
