U.S. Bancorp, which took over the banking subsidiaries of FBOP Corp. from the Federal Deposit Insurance Corp. on Oct. 30, hung a "for sale" sign on three Texas banks acquired as part of the deal.
The Minneapolis company announced Wednesday that it is seeking buyers for Citizens National Bank of Teague, Madisonville State Bank in Madisonville and North Houston Bank in Houston. The sales are expected to be completed early in the second quarter, the company said. U.S. Bancorp, a $265 billion-asset company, would have no retail locations in Texas after the deals close.
Six other banks that had been owned by FBOP in Arizona, California and Illinois will remain part of U.S. Bank.