Austin Bancorp in Jacksonville, Texas, has agreed to buy Chasewood Bank in Houston.
The parent of the $2.8 billion-asset Austin Bank said in a press release that it expects to buy the $88 million-asset Chasewood in December. The price wasn’t disclosed.
Chasewood “will be able to continue banking in Houston while having local access to three additional offices in our southernmost region” Jeff Austin Jr., senior chairman at Austin Bank, said in the release.