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First Financial Bankshares, Inc.
FFIN today announced that it has entered into a definitive agreement
to acquire Orange Savings Bank, SSB for an expected combination of cash and
stock purchase price of approximately $56.0 million. Pending regulatory and
shareholder approval, the acquisition is expected to be finalized in the
second quarter of 2013.
The acquisition of Orange Savings Bank expands First Financial Bankshares'
growing Texas footprint into the cities of Orange, Port Arthur, Vidor,
Mauriceville and Newton, Texas. These six locations are located and service
the broader areas of Orange, Jefferson and Newton Counties, all within
southeast Texas, approximately 100 miles east of Houston along Interstate 10.
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