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McAllen, Texas-based Inter National Bank and San Antonio, Texas-based Vantage Bank Texas agreed to merge, the two banks announced on their respective websites.
Terms of the deal were not disclosed.
SNL valuations for bank and thrift targets in the Southwest region between July 5, 2017, and July 5, 2018, averaged 179.68% of book, 188.46% of tangible book and had a median of 20.09x last-12-months earnings, on an aggregate basis.
The two banks, both owned by the Collins Family Trusts, filed merger applications with the Texas Department of Banking and the Federal Reserve to legally become one entity. The...