Coastal Bend Bancshares in Corpus Christi, Texas, has agreed to buy First National Bank in Port Lavaca, Texas.
The parent of the $661.7 million-asset First Community Bank said in a press release that it expects to buy the $381.3 million-asset First National in the second quarter. The price wasn’t disclosed.
First National has four branches.
The acquisition “brings together two like-minded community banks that share the same values: local decision-making by bankers who truly know and care about the individuals, families and businesses that make up our communities along the Texas Gulf Coast,” Wes Hoskins, First Community’s CEO, said in the release.