In 2010 the bank entered the market with a Preston Center branch acquisition and a commercial lending office. The expansion complements Green Bank's ongoing Dallas-area growth. The merger will bring together Green Bank's offices in Dallas (4), Houston (7) and Austin (1) with SharePlus Bank's Dallas-area branches (3) and Louisville, KY location (1). The combined banking operation will have 16 locations operating as Green Bank.
On the same date, SharePlus Bank had $304 million in total assets and $261 million in total deposits. On December 31, 2013, Green Bank had $1.7 billion in total assets and $1.45 billion in total deposits.
Subject to satisfaction of certain conditions, including receipt of SP Bancorp shareholder approval and customary regulatory approvals, the sale is expected to close in the third quarter of 2014. The transaction has been unanimously approved by the boards of directors of both companies. (Nasdaq:SPBC), the parent holding company of SharePlus Bank, for $46.2 million in cash, or $29.55 per share, subject to potential adjustment as set forth in the merger agreement. HOUSTON, (GLOBE NEWSWIRE) - Green Bancorp, Inc., the parent holding company of Green Bank, N.A., has entered into a definitive agreement and plan of merger to acquire SP Bancorp, Inc.