Independent Bank to Buy Live Oak State Bank, Deal Valued at ~$20M
Independent Bank Group, Inc. (Nasdaq: IBTX), the holding company for Independent Bank, today announced that Independent Bank Group has entered into a definitive agreement to acquire Live Oak Financial Corp. and its subsidiary, Live Oak State Bank, Dallas, Texas, a Texas state chartered bank with total assets of $122.9 million, total deposits of $103.9 million, and total equity capital of $13.9 million at June 30, 2013. Live Oak State Bank is a full service commercial bank with one office located in the Swiss Avenue/Lakewood area east of downtown Dallas.
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