TMCnet News
First Financial Bankshares to acquire Orange Savings BankFeb 26, 2013 (Datamonitor Financial Deals Tracker via COMTEX) -- First Financial Bankshares, Inc. (FFB), a US-based financial holding company, has entered into a definitive agreement to acquire Orange Savings Bank, SSB, for a combination of both cash and stock consideration of approximately $56 million. The transaction is expected to be completed in the second quarter of 2013. Deal Value (US$ Million) 56 Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Announced: 2013-02-20 Deal Participants Target (Company) Orange Savings Bank, SSB Acquirer (Company) First Financial Bankshares, Inc. Deal Rationale The transaction enables FFB to expand its Texas footprint into the cities of Orange, Port Arthur, Vidor, Mauriceville and Newton, Texas, US. |