On July 18, Baton Rouge, Louisiana-based Investar Holding Corp. announced that its wholly owned subsidiary, Investar Bank National Association, has entered into an agreement to sell certain assets, deposits and other liabilities associated with its Alice and Victoria locations in Texas to Corpus Christi-based First Community Bank. The pending sale is expected to close in the first quarter of 2023. First Community Bank expects that it will ultimately consolidate the two Investar Bank locations with its existing branch locations in Alice and Victoria.
“We expect that this sale of our South Texas branches will permit us to focus more on our core markets,” says John D’Angelo, Investar Bank’s president and CEO. “Of Investar’s entire branch network, these two locations are geographically the most distant from our Louisiana headquarters. We believe our South Texas customers will be well-served by First Community Bank following completion of the sale.”
Established in 1983, First Community Bank operates 13 Texas branches in the Coastal Bend region.