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News Breaks | | | | February 20, 2013 | | 11:37 EDT |  | FFIN | First Financial to acquire Orange Savings Bank
First Financial Bankshares (FFIN) announced that it has entered into a definitive agreement to acquire Orange Savings Bank, SSB for an expected combination of cash and stock purchase price of approximately $56M. Pending regulatory and shareholder approval, the acquisition is expected to be finalized in the second quarter of 2013. The acquisition of Orange Savings Bank expands First Financial Bankshares' growing Texas footprint into the cities of Orange, Port Arthur, Vidor, Mauriceville and Newton, Texas. These six locations are located and service the broader areas of Orange, Jefferson and Newton Counties, all within southeast Texas, approximately 100 miles east of Houston along Interstate 10. | |
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