First Financial Bankshares To Buy Orange Savings Bank For About $56 Mln

(RTTNews.com) - First Financial Bankshares, Inc. ( FFIN ) said Wednesday that it has agreed to buy Orange Savings Bank, SSB for an expected combination of cash and stock purchase price of about $56.0 million.

As of December 31, 2012, Orange Savings Bank had total assets of $442.83 million, total loans of $295.86 million and total deposits of $381.12 million.

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.

The acquisition is expected to be finalized in the second quarter of 2013.

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