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In Texas, Guaranty Bank & Trust buying 1 Independent Bank branch


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In Texas, Guaranty Bank & Trust buying 1 Independent Bank branch

MountPleasant, Texas-based GuarantyBank & Trust NA ($1.79 billion) agreed to buy a full-servicelocation at 3101 Wind River Lane in Denton, Texas, from ($5.26 billion).

The termsof the deal were not disclosed in the May 4 news release.

As part ofthe deal that is subject to regulatory approvals, Guaranty will assume certaindeposits and acquire all of the fixed assets of the location. The transactionis slated for completion in the second quarter.

Senior VicePresident Debbie Irby, who joined Guaranty in August 2015, will manage the WindRiver location. The branch will be Guaranty's second in Denton. On May 2,Guaranty opened its first Denton location at 1100 Dallas Drive, Suite 100.

GuarantyBank is a unit of GuarantyBancshares Inc., while McKinney, Texas-based Independent Bank is aunit of Independent Bank GroupInc.

Commerce Street Capital, led by C.K. Lee and Jola Portnoy,was the financial adviser for Independent Bank Group.