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Oklahoma-based American Bancorp. buying Tulsa-based Peoples State Bancshares

Sapulpa, Okla.-based American Bancorp. Inc. intends to acquire Tulsa, Okla.-based Peoples State Bancshares Inc., according to a notice in the Tulsa World.

The terms of the deal were not disclosed.

American Bancorp. is the holding company of American Heritage Bank, which has $1.11 billion in assets and 23 branches, according to S&P Global Market Intelligence data. Peoples State Bancshares is the holding company of Peoples Bank, which has $112.9 million in assets and two branches.

American Bancorp. will expand in Tulsa County, Okla., by two branches to be ranked No. 19 with a 1.19% share of approximately $22.69 billion in total market deposits.

SNL valuations for bank and thrift targets in the Southwest region between Sept. 4, 2017, and Sept. 4, 2018, averaged 180.88% of book, 189.78% of tangible book and had a median of 21.33x last-12-months earnings, on an aggregate basis.

American Bancorp.'s financial adviser was D.A. Davidson & Co., led by Eugene Katz and Stephen Nelson. Its legal adviser was Crowe & Dunlevy, led by Scott Meacham. Peoples Bancshares' legal adviser was McAfee & Taft, A Professional Corp., led by C. Bruce Crum.

To use S&P Global Market Intelligence's branch analytics tools to compare market overlap, click here. To create custom maps, click here.

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