Independent Bank Group completes acquisition of Carlile Bancshares

|About: Independent Bank Group (IBTX)|By:, SA News Editor

Independent Bank Group (IBTX -2.3%announced the completion of the acquisition of Carlile Bancshares. Under the terms of the definitive agreement, the Independent Bank Group issued ~8.804M shares of Independent Bank Group common stock as consideration for all of the outstanding securities of Carlile Bancshares and paid $19.0M in cash to cash out options to purchase shares of Carlile Bancshares common stock

Carlile Bancshares through its wholly owned subsidiary operates 24 full service banking locations in Texas and 18 full service banking locations in Colorado. As of Sept. 30, 2016, Carlile Bancshares reported total assets of $2.3B, total loans of $1.5B, total deposits of $1.9B, and total equity capital of $383M.