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Two from Fort Worth appointed by Gov. Abbott to university boards

Steve Hicks, a University of Texas System regent who has been a vocal opponent of regents who have criticized the system’s flagship campus in Austin, was reappointed to the board by Gov. Greg Abbott on Thursday. 

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Fort Worth draws closer to deal with Lancaster developer

City staff are planning to introduce the developer Feb. 3 at a meeting of the City Council's Housing and Economic Development Committee.

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Compass BBVA names Happel CEO for Fort Worth

BBVA Compass has appointed Brian Happel, most recently the Fort Worth city president, its chief executive officer of Fort Worth.

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Fort Worth minority business receives nationwide grant

Cuevas Distribution Inc., a minority- and woman-owned business in Fort Worth, is one of 20 small businesses nationwide to receive a $150,000 grant from Chase as part of the Mission Main Street program.

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Museum District: Area’s evolution creating more interaction, public spaces

Fifteen years ago if someone had shot a cannon from Fort Worth’s world-renowned museum district, nobody would have noticed, joked Lori Eklund, senior deputy director of the Amon Carter Museum of American Art. But that has changed.

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Green Bank acquires North Texas bank

Houston-based Green Bancorp Inc., the parent holding company of Green Bank N.A., has entered into a definitive agreement and plan of merger to acquire Plano-based SP Bancorp Inc., the parent holding company of SharePlus Bank, for $46.2 million in cash, or $29.55 per share.
The transaction has been unanimously approved by the boards of directors of both companies. The sale is expected to close in third quarter 2014.
Green Bank had $1.7 billion in total assets and $1.45 billion in total deposits as of Dec. 31, 2013, while SharePlus Bank had $304 million in total assets and $261 million in total deposits.


The combined banking operation will have 16 locations operating as Green Bank. The expansion and merger will bring together Green Bank’s 12 offices in Dallas, Houston and Austin with SharePlus Bank’s three Dallas-area branches and Louisville, Ken., location.
Green Bank entered the Dallas-area market in 2010 with a Preston Center branch acquisition and a commercial lending office. During the next three years, new branches were opened in Uptown and Addison, and Opportunity Bank in Richardson was acquired.
“We pride ourselves on our strong community banking presence; the addition of SharePlus Bank strengthens our relationship and capabilities with our Dallas-based customers,” said Geoff Greenwade, president and CEO of Green Bank.


SharePlus was founded as a credit union in 1958 and became a publicly traded entity in 2010. In December 2013, SharePlus Bank converted its federal thrift charter to a state chartered, full-service bank. It shares trade on the Nasdaq Capital Market under the symbol “SPBC.”
Skadden, Arps, Slate, Meagher & Flom LLP serves as legal counsel to Green Bancorp Inc. Wachtell, Lipton, Rosen & Katz and Haynes and Boone LLP are serving as legal counsel and Commerce Street Capital LLC served as financial adviser to SP Bancorp. Mercer Capital rendered a fairness opinion to SP Bancorp in connection with the proposed transaction.

Betty Dillard
bdillard@bizpress.net
 

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