Jefferson Savings Bancorp said it has completed the acquisition of L&B Financial Inc. and its Loan and Building State Savings Bank unit for $15.3 million in cash and 549,000 common shares.

In a press release, Jefferson Savings said L&B Financial will be merged with Jefferson Savings' First Federal Savings Bank of North Texas.

L&B Financial, based in Sulphur Springs, Tex., is a savings and loan holding company. Its asset total was not available. The acquisition brings Jefferson Savings Bancorp's assets to $1.3 billion.

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