TLCM Holdings LLC, a new holding company in Richardson, Texas, has agreed to acquire EJ Financial Corp. in Dallas.

TLCM and EJ Financial announced the deal late Wednesday, without disclosing the price. They said the price would be based on a sliding scale tied to the performance of EJ Financial's loan portfolio.

EJ Financial is the parent company of the $250 million-asset Equity Bank. Nonperforming assets made up 9.69% of Equity's assets at Sept. 30, up 296 basis points from the same time last year, according to the Federal Deposit Insurance Corp.

Equity Bank posted a third-quarter loss of $183,000, bringing its loss for the year to $854,000.

The bank was well capitalized by regulatory standards.

According to its Web site, Equity Bank emphasizes real estate-collateralized loans that it "predominately acquires in the secondary financial markets by negotiating private loan acquisitions or participations in commercial loan auctions. Typically, Equity Bank acquires or participates in loan transactions involving a single borrower/guarantor in amounts ranging from $1.5 million to $6 million in purchased value."

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