trending Market Intelligence /marketintelligence/en/news-insights/trending/mpxz9xyfldpcfz6l_t1_ng2 content esgSubNav
In This List

Missouri-based Summit Bancshares to acquire Bank of Houston


Spotlight on sustainability: How banks can overcome the challenges of achieving net-zero emissions by 2050


Insight Weekly: US election scenarios; borrowing costs rise; commercial REIT fears


Street Talk | Episode 100 - KBW CEO offers optimism for bears fearful of bank liquidity, credit


Insight Weekly: Stocks endure more pain; bank branch M&A slows; debt ratios fall

Missouri-based Summit Bancshares to acquire Bank of Houston

Chesterfield, Mo.-based Summit Bancshares Inc. seeks to acquire Bank of Houston.

Summit Bancshares filed an application with the Federal Reserve Bank of St. Louis to become a bank holding company by acquiring 100% of the bank's voting shares.

Terms of the in-state deal were not disclosed in the Federal Reserve release.

SNL valuations for bank and thrift targets in the Midwest region between Aug. 28, 2017, and Aug. 28, 2018, averaged 160.12% of book, 166.83% of tangible book and had a median of 20.42x last-12-months earnings, on an aggregate basis.

Bank of Houston operates one branch in Texas County, Mo., ranked fifth with a 10.25% share of approximately $324.23 million in total market deposits. The Ozark Bancshares Inc. subsidiary had approximately $36.1 million in assets as of June 30, according to S&P Global Market Intelligence data.

To create custom maps using S&P Global Market Intelligence tools, click here.

SNL Image

SNL is owned by S&P Global Market Intelligence.