BOM Bank in Natchitoches, La., has agreed to buy nine Texas branches from American State Bank in Arp, Texas.
The $1 billion-asset BOM Bank filed an application with the Federal Deposit Insurance Corp. on April 12 tied to the proposed acquisition. The sale is expected to close in the fourth quarter. The price wasn’t disclosed.
The $953 million-asset American State would have seven branches after the deal closes, based on FDIC data. The branches being sold are in the communities of Haslam, Timpson, Center, Lufkin, Lufkin Chestnut, Huntington, Chester and Conroe.
“We are thrilled to welcome the customers and employees of American State Bank to the BOM Bank family,” Ken Hale, BOM Bank’s president and CEO, said in a press release.
“This acquisition aligns with our mission to deliver exceptional banking
solutions while upholding the values of integrity, reliability, and community engagement,” Hale added.