TDECO in Houston terminates deal for Sabine State Bank in La.

TDECO in Houston has terminated an agreement to buy Sabine State Bank and Trust in Many, La.

The $4.8 billion-asset credit union agreed in April 2024 to buy the $1.2 billion-asset Sabine in a deal that was expected to close earlier this year. The price wasn’t disclosed.

It would have a been a huge acquisition for a credit union.

Sabine, which has 51 branches in western Louisiana and east Texas, specializes in commercial loans with concentrations in oil and gas, agriculture, and energy.

TDECU now plans to merge with Space City Credit Union and eventually rebrand as Space City Financial.