KEYSTONE BANK ANNOUNCES ACQUISITION OF GREEN BANK’S AUSTIN BRANCH
GREEN BANCORP (GNBC)
Last green bancorp earnings: 10/22 05:00 pm
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investors.greenbank.com/investor-relations
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Source: GlobeNewswire
Austin, Dec. 21, 2018 (GLOBE NEWSWIRE) -- KEYSTONE BANK ANNOUNCES ACQUISITION OF GREEN BANK’S AUSTIN BRANCH Austin, Dec. 21, 2018 (GLOBE NEWSWIRE) -- Keystone Bank, N.A. (“Keystone Bank”) and Green Bank, N.A (“Green Bank”) today announced that the banks have entered into a purchase and assumption agreement pursuant to which Keystone Bank will acquire certain assets and deposits associated with Green Bank’s Austin, Texas branch. Green Bank is the wholly owned subsidiary of Green Bancorp, Inc. (NASDAQ: GNBC) (“Green Bancorp” or the “Company”). The transaction is expected to close in the first quarter of 2019, subject to receipt of necessary regulatory approvals. Terms of the transaction were not disclosed. As part of the acquisition, Keystone Bank will gain a new branch just west of downtown Austin, at 1717 W. 6th St. This acquisition of the Austin branch from Green Bank will mark the second acquisition by Keystone Bancshares, Inc., the parent holding company of Keystone Bank.
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