The owner of the Houston Rockets has agreed to buy Chasewood Bank in Houston.
MergerCo, an entity owned by Tilman Fertitta, filed an application with the Federal Deposit Insurance Corp. and the Texas Department of Banking on Aug. 23 to buy the $114 million-asset bank.
Bob Tyer, the bank’s president and CEO, is expected to keep his posts, according to the Houston Business Chronicle.
Fertitta’s other businesses include Landry’s, Golden Nugget Casinos and Hotels and the Houston Rockets. Chasewood would operate separately from those ventures.