The Bank Slate


Citizens State in Texas to buy neighboring bank

Citizens State Bank in Somerville, Texas, has agreed to buy Burton State Bank in Texas.

The $840 million-asset Citizens State said in a press release Monday that the deal for the $85 million-asset Burton State should close later this year. Citizens State did not disclose the price it will pay.

Burton State has one branch. Citizens State is “excited about the acquisition … and the opportunities for growth it will provide for their customers and employees,” Aaron Flencher, the bank’s president and CEO, said in the release.

The sale will allow Burton State’s employees to “spend more time focusing on the individual needs of our customers while also improving upon the products and services we currently offer,” Linda Blacklock, the bank’s president and CEO, said in the release.

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