First Financial Bankshares buys First State Bank parent Sam Houston Financial for $22 million

First Financial buys First State Bank for $22.2M

ABILENE, Texas — First Financial Bankshares Inc. on Thursday said it reached a deal to buy Sam Houston Financial Corp., the parent of The First State Bank, for $22.2 million.

The First State Bank has two locations in Huntsville, Texas. It had total assets of $164.2 million and total deposits of $147.1 million on Aug. 31.

The deal is expected to close by the end of the year, pending regulatory approval.

First Financial operates 10 separately chartered banks with 50 locations in Texas. The acquisition is the company’s first since 2005.

In aftermarket trading after First Financial shares were flat, after closing Thursday’s regular session down 26 cents at $45.78. The stock has moved between $43.55 and $55.94 in the past 52 weeks.