A group led by the former CEO of Spirit of Texas Bank has agreed to buy Lone Star Bank in Houston.
Journey Financial Group said in a press release that it plans to buy the $191 million-asset Lone Star by the third quarter. The price wasn’t disclosed.
Journey is led by Dean Bass and Kevin Bass. Dean Bass led Spirit of Texas Bank when it was sold to Simmons First National in 2022.
“We have admired the growth and reputation of the Lone Star franchise over the past many years and are excited about the potential of this new partnership to become a leading community bank for the Houston community,” Dean O. Bass, Journey’s chairman and CEO, said in the release.
Dennis Harrington, Lone Star’s president and CEO, will stay as the bank’s vice chairman and Houston president.
Journey Financial Group was advised by Hovde Group and Hunton Andrews Kurth Lone Star was advised by Piper Sandler and Bradley Arant Boult Cummings.