Texas State Bankshares in Harlingen has agreed to buy Blanco National Holdings.
Texas State, the parent of the $600 million-asset Texas Regional Bank, said in a press release that it expects to buy the $180 million-asset Blanco National in February. Texas State did not disclose the price of the deal.
Mark Tidwell, Blanco National's president and CEO, will become a market president at Texas State.
Blanco National "will provide the foundation for Texas Regional Bank to extend its core banking, wealth management and mortgage divisions throughout the Hill Country," Michael Scaief, Texas State's chairman and president, said in the release.
Texas Regional launched in May 2010 with the acquisition of Falfurrias State Bank.