HOUSTON - Sterling Bancshares Inc. said it has signed a definitive agreement to acquire 100% of the stock of Enterprise Bank-Houston for $15 million.
As reported, the company signed a letter of intent for the acquisition on July 30, when terms weren't being disclosed.
In a press release, Sterling said the proposed acquisition requires regulatory approvals and the approval of Enterprise shareholders.
Enterprise has $140 million in assets, the company said. As of June 30, Sterling Bancshares reported total assets of $301.7 million.
