College Station, Texas-based Adam Bank Group Inc. filed an application with the with the Federal Reserve Bank of Dallas to acquire Andrews, Texas-based Andrews Holding Co. and indirectly acquire unit Commercial State Bank, according to a Federal Reserve release.

As of June 30, Adam Bank Group had $1.06 billion in assets, while Andrews Holding Co. had $638.8 million in total consolidated assets, according to S&P Global Market Intelligence data.

SNL valuations for bank and thrift targets in the Southwest region between Oct. 6, 2017, and Oct. 6, 2018, averaged 173.53% of book, 181.86% of tangible Book and had a median of 19.92x last-12-months earnings, on an aggregate basis.

Adam Bank Group will expand in Texas by seven branches to be ranked No. 78 with a 0.11% share of approximately $840.12 billion in total market deposits.

Adam Bank Group is the parent of American Momentum Bank.

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