Coastal Bancorp, a $3 billion-asset Houston thrift, said it would buy 12 branches, $357 million of deposits, and $175 million of loans for an undisclosed price from Pacific Southwest Bank of Corpus Christi, Tex.

The agreement, which was announced last Monday and is expected to close in the third quarter, signaled an end to the effort to sell $1.2 billion- asset Pacific Southwest as a unit. Coastal is buying branches in the Rio Grande Valley to bolster its presence there.

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