Bastrop Bancshares in Bastrop, Texas, agreed to buy Columbus Bancorp in Columbus, Texas.
Bastrop, the parent of the $1.1 billion-asset First National Bank of Bastrop, said in a press release that it will pay an undisclosed cash amount for the holding company of the $154.8 million-asset First State Bank. The deal is expected to close in the third quarter.
“This merger reflects our commitment to building a community bank that serves the evolving needs of our customers across Central Texas,” Stephen Lee, Bastrop’s president and CEO, said in the release. “From the beginning of our discussions, it was clear there was strong cultural alignment between our banks and a genuine commitment to both our customers and the communities we serve.”
Hillworth Bank Partners and Larry Temple advised Columbus. Fenimore Kay Harrison advised Bastrop.