M&A Deal Summary

Spirit of Texas Bank Acquires Citizens State Bank

On July 24, 2019, Spirit of Texas Bank acquired financial services company Citizens State Bank for 66M USD

Acquisition Highlights
  • This is Spirit of Texas Bank’s 3rd transaction in the Financial Services sector.
  • This is Spirit of Texas Bank’s largest (disclosed) transaction.
  • This is Spirit of Texas Bank’s 3rd transaction in the United States.
  • This is Spirit of Texas Bank’s 3rd transaction in Texas.

M&A Deal Summary

Date 2019-07-24
Target Citizens State Bank
Sector Financial Services
Buyer(s) Spirit of Texas Bank
Deal Type Merger
Deal Value 66M USD
Advisor(s) Hillworth LLC (Financial)
Fenimore, Kay, Harrison & Ford (Legal)

Target

Citizens State Bank

Chandler, Texas, United States
Citizens State Bank, a subsidiary of Chandler Bancorp, offers personal and commercial banking services.

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Buyer(S) 1

Buyer

Spirit of Texas Bank

Conroe, Texas, United States

Category Company
Founded 2008
Sector Financial Services
Revenue 128M USD (2021)
DESCRIPTION

Spirit of Texas Bank through its wholly-owned subsidiary, Spirit of Texas Bank, provides a wide range of relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Spirit of Texas Bank has 29 locations in the Houston, Dallas/Fort Worth, Bryan/College Station, San Antonio-New Braunfels and Corpus Christi metropolitan areas, along with offices in North Central Texas. Spirit of Texas Bank was founded in 2008 and is based in Conroe, Texas.


DEAL STATS #
Overall 3 of 3
Sector (Financial Services) 3 of 3
Type (Merger) 1 of 1
State (Texas) 3 of 3
Country (United States) 3 of 3
Year (2019) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-27 The First National Bank of Beeville

Beeville, Texas, United States

The First National Bank of Beeville offers personal and commercial banking services. The First National Bank of Beeville was formed in 1890 and is based in Beeville, Texas.

Buy $64M