Investar unit to sell 2 Texas branches to First Community Bank
Investar (NASDAQ:ISTR) said Monday its unit Investar Bank will sell certain assets, deposits and other liabilities associated with its Alice and Vi...
Investar (NASDAQ:ISTR) said Monday its unit Investar Bank will sell certain assets, deposits and other liabilities associated with its Alice and Victoria, Texas locations to First Community Bank, Corpus Christi, Texas. First Community, a unit of Coastal Bend Bancshares, is expected to acquire ~$23 in loans and assume ~$27 in deposits. It will ultimately consolidate the 2 ISTR locations with its existing branch locations in Alice and Victoria, Texas. "We expect this sale of our South Texas branches will permit us to focus more on our core markets," said ISTR CEO John D'Angelo.