Compass acquires Houston bank.BIRMINGHAM, Ala.--(BUSINESS WIRE)--Oct. 24, 1996--Compass Bancshares, Inc. announced today that it has completed its acquisition of ProBank with four key locations in the high growth areas of The Woodlands and Conroe in north Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the . The transaction adds $63 million in assets and $60 million in deposits to Compass' rapidly expanding Texas franchise. This year alone, Compass has closed eight acquisitions in Dallas, Houston, San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. , central Texas and east Texas and announced another two pending purchases in Austin and the Bryan/College Station markets. Statewide, Compass will have 100 locations and just over $5.0 billion in assets when the pending acquisitions of Horizon Bancorp, Inc. in Austin and Greater Brazos Valley The Brazos Valley is a region in the U.S. state of Texas (Central Texas) consisting of Brazos County, Robertson County, Grimes County, Washington County, Burleson County, Madison County, and Leon County, with Brazos County and the cities of College Station and Bryan at its center. Bancorp, Inc. in Bryan/College Station and two offices under construction are completed. Also on the move in Florida, Compass increased its Sunshine State assets by 50 percent when it bought CFB CFB Canadian Forces Base Bancorp, Inc. in Jacksonville last August. When the acquisition of Enterprise National Bank of Jacksonville is finalized, Compass' Florida assets will exceed $1.2 billion and the company will operate 36 bank offices in Jacksonville and Northwest Florida. Compass Bancshares, Inc. is a $11.6 billion bank holding company with 208 offices in Alabama, Florida and Texas. Compass reported record earnings of $94.5 million for the first nine months of 1996 and has a capital base of $777 million. Shares of the company's common stock are traded through the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on national market system under the symbol CBSS CBSS Council of Baltic Sea States CBSS Craft and Boat Support System CBSS Coastal Border Surveillance System (MSSC) CBSS Closed-Breach Scavenging System (compressed air system for removing smoke from tank gun tubes) . CONTACT: Compass Bancshares, Inc., Birmingham Ellen Laden, 205/933-3554 |
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