Investar Holding provides full banking services, excluding trust services, through its wholly-owned banking subsidiary, Investar Bank, National Association
Investar Bank, National association expands Texas footprint. (Credit: Adam Radosavljevic from Pixabay.)
Investar Holding announced today that its wholly-owned subsidiary, Investar Bank, National Association, Baton Rouge, Louisiana (“Investar Bank”), completed its previously announced acquisition and assumption of certain assets, deposits and other liabilities associated with the Alice, Texas and Victoria, Texas locations of PlainsCapital Bank, a wholly-owned subsidiary of Hilltop Holdings Inc.
In connection with the acquisition, which was completed on February 21, 2020, Investar Bank acquired approximately $46 million in loans and approximately $37 million in customer deposits. In addition, Investar Bank acquired substantially all the fixed assets at the branch locations, and assumed the leases for the branch facilities.
“We are excited for the opportunity to welcome these new Texas customers to Investar Bank, as we strengthen our franchise and expand services into these two additional Texas communities,” said Investar’s President and Chief Executive Officer, John D’Angelo. “We believe these branches will complement our recent entry into Texas, allowing us to strategically expand our Texas footprint while adding new loan customers and low-cost deposits.”
Source: Company Press Release