First Financial Bankshares to acquire Orange Savings Bank
Feb 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
Target (Company) Orange Savings Bank, SSB
Acquirer (Company) First Financial Bankshares, Inc.
The transaction enables FFB to expand its Texas footprint into the cities of Orange, Port Arthur, Vidor, Mauriceville and Newton, Texas, US.
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