(TEXAS) A Central Texas bank has agreed to merge with a Mississippi bank this week.
BancorpSouth, Inc. said Wednesday that Central Community Corporation of Temple has agreed to merge into BancorpSouth. Central Community Corp. is also the parent company of First State Bank Central Texas, which is headquartered in Austin.
First State Bank operates 31 full-service banking offices: 11 in Killeen-Temple-Ft. Hood, 11 in Austin-Round Rock, 2 in Marble Falls, and 7 others in Central Texas. At the end of 2013, Central Community Corp. had total assets of $1.3 billion and total deposits of $1.1 billion.
Officials said the merger has been unanimously approved by both Boards of Directors and is expected to be finalized and closed in the 2nd quarter of this year.