$220M Bank Buyout Puts Cullen/Frost Closer To Texas Oil

Law360, New York (August 14, 2013, 5:02 PM EDT) -- Cullen/Frost Bankers Inc. has entered into a $220 million definitive merger with WNB Bancshares Inc., giving the Texas-based bank a foothold in the state's lucrative oil and gas industry, the bank announced Tuesday.

San Antonio-based Cullen/Frost, which operates as Frost Bank, will take on all eight branches of Western National Bank, the banking subsidiary of WNB Bancshares, with most of those branches located in Midland and Odessa. Those two cities are located in the Permian Basin, the heart of Texas's oil and gas industry.

“Joining WNB...
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