HOUSTON – Bracewell LLP represented Allegiance Bancshares, Inc. (Allegiance) in the merger of Allegiance with Farmers & Merchants Bancshares, Inc. (F & M) and the merger of F & M's wholly owned subsidiary, Enterprise Bank, Houston, Texas, with and into Allegiance Bank Texas, the wholly owned subsidiary of Allegiance. Both mergers became effective on January 1, 2015.
Enterprise Bank operated nine banking offices primarily in the Houston Metropolitan Area. As of September 30, 2014, Enterprise Bank reported total assets of $569 million, total loans of $408 million and total deposits of $489 million.
Allegiance is a Houston, Texas based financial holding company. Prior to the mergers, Allegiance Bank Texas operated 11 full service banking offices in Houston, Bellaire, Clear Lake, and Katy, Texas. As of September 30, 2014, Allegiance Bank Texas reported total assets of $1.2 billion, total loans of $965 million and total deposits of $1.1 billion.
The combined total assets of Allegiance Bank Texas increased to approximately $1.8 billion as a result of the merger.