Dallas-based Dominion Bancshares is acquiring Grapeland, Texas-based Grapeland State Bank.

The terms of the deal were not disclosed.

SNL valuations for bank and thrift targets in the Southwest region between Aug. 13, 2017, and Aug. 13, 2018, averaged 182.43% of book, 192.26% of tangible book and had a median of 20.92x last-12-months earnings, on an aggregate basis.

The deal is expected to close in the fourth quarter.

Grapeland State Bank, as of June 30, had about $36 million in assets, $25 million in loans and $31 million in deposits.

Grapeland State Bank operates two branches in Houston County, Texas, ranked sixth with a 7.44% share of approximately $381.50 million in total market deposits.

Performance Trust Capital Partners LLC, with Paul Stephens as lead investment banker, acted as financial adviser to Dominion Bancshares, while Fenimore Kay Harrison & Ford LLP, with lead attorneys Chet Fenimore and Geoffrey Kay, acted as its legal adviser. Hunton Andrews Kurth LLP, with lead attorneys Peter Weinstock and Brian Marek, acted as legal adviser to Grapeland State Bank.

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