SouthState Bank To Buy Independent Bank Group For $2B

US-based private bank SouthState Corporation will acquire another lender Independent Bank Group for around $2 billion

ISTANBUL, (UrduPoint / Pakistan Point News - 20th May, 2024) US-based private bank SouthState Corporation will acquire another lender Independent Bank Group for around $2 billion.

According to a joint press release issued by both banks on Monday, Independent Bank Group, headquartered in McKinney, Texas, has approximately $18.9 billion in total assets, $15.7 billion in total deposits and $14.

6 billion in total loans as of the end of March.

Independent Bank Group operates in four market regions, including Dallas/Fort Worth, Austin and Houston areas in Texas, as well as the Colorado Front Range.

SouthState CEO John C. Corbett said: "With a local, geographic management model, an industry-leading track record on credit and a presence in some of the best markets in the country, Independent Bank Group is a great fit with SouthState."