Texas City-based Texas Independent Bancshares, the parent company of Texas First Bank, and Houston-based Preferred Bancshares Inc., the parent company of Preferred Bank, finalized a merger agreement.

The deal is expected to close in the second quarter of 2019, according to a Feb. 18 release from the community banks. Financial terms of the merger were not disclosed.

Founded in 1985, Preferred Bank operates five banking centers in Houston, Spring, Meyerland, The Woodlands and Conroe. As of Dec.…

Houston Biz Journal
Two Houston-area community banks finalize merger agreement