American Bank Holding in Corpus Christi, Texas, has agreed to buy TexStar National Bank in Universal City, Texas.
The $2.1 billion-asset American said in a press release that it expects to complete the purchase of the $458 million-asset TexStar in the TKTK quarter.
TexStar has six branches, $209.7 million of loans and $407.1 million of deposits around San Antonio.
The acquisition “is entirely consistent with American Bank’s growth strategy and long-term strategic plan, while making it even easier for clients in the San Antonio market to gain access to our brand of relationship banking,” Stephen Raffaele, American’s president and CEO, said in the release.
Byron Bexley, TexStar’s chairman and CEO, will become vice chairman of American’s San Antonio market. Manny Ruiz, TexStar’s president and senior lending officer, will become president of American’s San Antonio market.
Stephens and Norton Rose Fulbright advised American. Hovde Group and Waller Lansden Dortch & Davis advised TexStar.