TDECO in Houston has agreed to buy Sabine State Bank and Trust in Many, La.
The $4.8 billion-asset credit union said in a press release that it expects to complete the purchase of the $1.2 billion-asset Sabine early next year. The price wasn’t disclosed.
“TDECU is on a growth journey to expand across the state of Texas and beyond,” Isaac Johnson, the credit union’s president and CEO, said in the release.
“Our mission is helping people navigate their financial journeys, and be financial solvers for our members’ everyday needs,” Johnson added. The acquisition “extends our reach to more communities, diversifies our commercial portfolio and makes our balance sheet even stronger.”
Sabine has 51 branches in western Louisiana and east Texas. It specializes in commercial loans with concentrations in oil and gas, agriculture and energy.