Texas United Bancshares (NASDAQ:TXUI)
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From May 2019 to May 2024
State Bank Announces Purchase of Caldwell and Lexington Branches
of Central Bank, Houston, Texas
LA GRANGE, Texas, Aug. 9 /PRNewswire-FirstCall/ -- State Bank, a wholly owned
subsidiary of Texas United Bancshares, Inc. (NASDAQ:TXUI) ("Texas United"), has
completed its previously announced acquisition of the Caldwell and Lexington
branches of Central Bank in Houston, Texas.
"The acquisition of Central Bank branches are expected to improve our
efficiency given their proximity to some of our existing banking centers, and
their relatively low levels of non-interest expense," said Don Stricklin,
President and CEO of State Bank. "The acquisition of the Lexington branch will
increase our deposit share in Lee County, where we currently maintain two
banking centers. The acquisition of the Caldwell branch provides us a point of
entry into the county seat of Burleson County, which is contiguous to Brazos
County, home of our three Bryan-College Station banking centers," added Mr.
Stricklin.
Texas United Bancshares, Inc. is a registered financial holding company listed
on the Nasdaq National Market under the symbol "TXUI". Its wholly owned
subsidiary, State Bank, offers a complete range of banking services through 18
full service banking centers located in the greater central and south central
Texas area. In addition, State Bank has eight mortgage loan production offices
located in Houston and San Antonio through its wholly-owned subsidiary
Community Home Loan.
In connection with the proposed merger of GNB Bancshares, Inc. ("GNB") into
Texas United, Texas United has filed with the Securities and Exchange
Commission a registration statement on Form S-4 to register the shares of Texas
United's common stock to be issued to the shareholders of GNB. The
registration statement includes a joint proxy statement/prospectus, which will
be sent to the shareholders of GNB and the shareholders of Texas United seeking
their approval of the proposed transaction.
WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENT ON
FORM S-4 AND THE JOINT PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE
REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION IN CONNECTION WITH THE PROPOSED
TRANSACTION, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT TEXAS UNITED, GNB
AND THE PROPOSED TRANSACTION.
Investors and security holders may obtain free copies of these documents
through the website maintained by the Securities and Exchange Commission at
http://www.sec.gov/ . Free copies of the joint proxy statement/prospectus may
also be obtained by directing a request by telephone or mail to Texas United
Bancshares, Inc., 202 West Colorado St., La Grange, Texas 78945, Attn: Investor
Relations. Texas United's telephone number is (979) 968-8451.
The directors, executive officers, and certain other members of management of
Texas United and GNB may be soliciting proxies in favor of the merger from the
companies' respective shareholders. For information about these directors,
executive officers, and members of management, shareholders are asked to refer
to the Registration Statement on Form S-4 and the most recent proxy statement
issued by Texas United, which are available at the addresses provided in the
preceding paragraph.
DATASOURCE: Texas United Bancshares, Inc.
CONTACT: Tom Adams of Texas United Bancshares, Inc., +1-979-968-7261