(CENTRAL TX) A major Central Texas bank company is being bought up by a larger banking company.
Mississippi-based BancorpSouth announced Thursday that is set to acquire First State Bank Central Texas. BancorpSouth, with nearly $15 billion in assets, is acquiring First State Bank`s $1.4 billion in assets, including a Louisiana-based bank. First State Bank, which was established in 1909 in Chilton, moved its operations to Temple in 1988 and currently operates 31 branches, including 3 locations in Temple, 1 in Belton, and 1 in Little River-Academy. The deal means First State Bank is joining BancorpSouth`s 250 branches in 8 states. First State Bank branches are expected to be re-branded later this year. Customers will also see new features and enhanced programs soon.