Hancock Bank (Gulfport, Miss.) has agreed to sell seven retail branch locations in the greater Houston (Texas) market to Texas Dow Employees Credit Union (TDECU) in Lake Jackson, Texas. As part of the branch acquisition, TDECU expects to acquire approximately $34 million in loans and to assume approximately $30 million in deposits. The branch locations to be sold are:
3800 SW Fwy. Ste. 100, Houston, Texas
6348 Woodway, Houston, Texas
5102 Richmond Ave., Houston, Texas
24250 Cinco Ranch Blvd., Katy, Texas
9915 Broadway, Pearland, Texas
24706 SW Fwy., Rosenberg, Texas
2109 State Hwy 6, Sugar Land, Texas
The branch sales, which are subject to regulatory approvals and certain closing conditions, are expected to be completed by year-end 2013. Terms of the branch sales were not disclosed.
Read the press release.
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