Plains Bancorp, Inc., the parent company of First United Bank, has entered into a Purchase & Assumption Agreement to acquire seven rural branch locations from Vista Bank. The transaction is expected to close on February 28, 2025, pending customary regulatory approval.
The seven branch locations are in Abernathy, Hale Center, Haskell, Idalou, Petersburg, Plainview, and Ralls, Texas. Upon completion of the acquisition, these branches will operate as full-service Banking Centers of First United Bank, staffed by the existing personnel from Vista Bank to ensure continuity and a seamless transition for customers.
“We are thrilled to welcome Vista Bank customers and team members to the First United Bank family as we expand into seven new West Texas communities,” First United Bank CEO R. Mark Bain said. “Since our beginning in 1907 to the First United Bank of today, our business model has always been focused on serving West Texas communities, the people who live and work here, and their distinct financial needs. Expanding our footprint into these seven new markets solidifies our commitment to remain an independent West Texas-based community bank that prioritizes genuine relationships and local decisionmaking. We look forward to supporting the producers, businesses, and families who call these seven communities home.”
Post acquisition, First United Bank will report total assets of $2.5 billion, total loans of $1.5 billion and total deposits of $2.2 billion. It will be the third-largest community bank domiciled in the West Texas and Panhandle Plains region and will operate 23 Banking Centers across 20 West Texas communities.
ABOUT FIRST UNITED BANK & PLAINS BANCORP, INC.:
First United Bank, a subsidiary of Plains Bancorp, Inc., reports total assets exceeding $2.1 billion and operates 16 Banking Centers across 13 West Texas communities, including Amarillo, Canyon, Childress, Dimmitt, Earth, Lamesa, Littlefield, Lubbock, Paducah, Seagraves, Seminole, Sudan, and Wichita Falls. With over 250 employees affectionately called “STARs,” First United Bank has been recognized as a “Best Bank to Work For” since 2016.
For more information, visit us online at www.firstunited.bank.