Dallas-based Charis Holdings Inc. has applied to become the holding company of Justin State Bank, according to a summary of filings that the Federal Reserve Bank of Dallas received in the week ended Feb. 24.
The financial terms of the transaction were not disclosed. SNL valuations for bank and thrift targets in the Southwest between Feb. 23, 2017, and Feb. 23, 2018, averaged 170.03% of book, 178.31% of tangible book and had a median of 19.03x last-12-months earnings, on an aggregate basis.
Justin, Texas-based Justin State Bank had $71.4 million in assets at the end of 2017.
