Independent Bank Group Completes Acquisition Of Collin Bank

(RTTNews) - Independent Bank Group, Inc. (IBTX), the holding company for Independent Bank, announced that it has completed the acquisition of Collin Bank, Plano, Texas, a Texas state chartered bank with total assets of $173.3 million, total deposits of $121.2 million, and total equity capital of $25.7 million at September 30, 2013.

Commenting on Collin Bank, the company said it is a full service commercial bank with one office located on the Dallas North Tollway.

Under the terms of the definitive agreement, Independent Bank Group issued about 247,809 shares of Independent Bank Group common stock and paid $18.4 million in cash for the outstanding shares of Collin Bank common stock.