Dallas-based Oakwood Bancshares Inc. is seeking to acquire Snyder, Texas-based Community Bank of Snyder, according to a Federal Reserve release.
As of June 30, Oakwood Bancshares had total assets of $328.6 million and Community Bank of Snyder had total assets of $109.3 million, based on S&P Global Market Intelligence data.
S&P Global Market Intelligence valuations for bank and thrift targets in the Southwest region between Oct. 3, 2018, and Oct. 9, 2019, averaged 181.12% of book and 187.24% of tangible book and had a median of 15.39x last-12-months earnings, on an aggregate basis.
Oakwood Bancshares will enter Scurry County, Texas, with one branch to be ranked third with a 22.76% share of approximately $421.11 million in total market deposits.
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