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Dripping Springs, Texas-based Pioneer Bank SSB ($128.3 million) has agreed to acquire La Grange, Texas-based La Grange Bancshares Inc. and its unit Colorado Valley Bank SSB ($29.8 million).
Terms of the deal were not disclosed. Offers for bank and thrift targets in the Southwest since April 13, 2011, have averaged 123.66% of book, 129.35% of tangible book and had a median of...