Texas Bank and Trust plans to acquire Lindale State Bank of Lindale and First State Bank of Overton.
The three banks have been closely associated for several years, and their consolidation should result in increased synergies and efficiencies, Rogers Pope, chairman and chief executive officer of Texas Bank and Trust, said in a statement.
The banks in Lindale and Overton and their branches in Hideaway and New London, respectively, will bring Texas Bank and Trust’s branch network to 18 and its total assets to about $1.8 billion.
Gary Taylor is vice chairman and chief executive officer of Lindale State Bank and Carroll Anderson is president.
Ms. Anderson said the merger with Texas Bank and Trust will provide a larger array of products and services, including trust and brokerage, to Lindale, Overton and the surrounding areas.
All three banks have received five-star ratings (the highest) by Bauer Financial, one of the nation’s premier bank rating agencies, representatives said. Bankrate. com has named Texas Bank and Trust as one of the 33 top performing banks in the country and one of the five top performing banks in Texas among banks with assets between $1 billion to $3 billion.