SouthState Corp acquires Independent Bank Group in a $2B stock deal, expanding its presence in Texas and Colorado.
SouthState Corp (NYSE:SSB) acquires Texas-based Independent Bank Group (NASDAQ:IBTX) in a $2B all-stock transaction, offering a 10% premium to IBTX shareholders. The deal, expected to close by Q1 2025, will result in a combined company with $65B total assets, $55B deposits, and $48B gross loans. The acquisition aims to expand SouthState's presence in Texas and Colorado.
May 20, 2024
5 Articles