Texas Bank Buys Regional Rival in $250M Deal

Law360, New York (August 29, 2013, 3:13 PM EDT) -- Houston-based Prosperity Bancshares Inc. will swallow Oklahoma's F&M Bank for a cash-and-stock mix worth about $250 million, Prosperity said Thursday, continuing a two-year shopping spree that has vaulted it up Texas' banking roster.

Prosperity  — now the fourth-biggest bank in Texas and closing in on No. 3 —  will pick up $2.4 billion in assets, $1.9 billion in outstanding loans, $2.2 billion in deposits and 13 banking offices in Texas and Oklahoma. Post-merger, the bank will have nearly $20 billion in total assets, 213 locations across...
To view the full article, register now.