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Ice cancels flights, snarls traffic; snow in North Texas forecast

DALLAS (AP) — More wintry weather was expected across parts of North Texas through Wednesday.

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Riverside: Developer sees revitalization with apartments, townhomes driving commercial projects

A Dallas developer is seeking to rezone more than 18 acres in Fort Worth’s Riverside area overlooking Oakhurst Scenic Drive, the Trinity River and downtown, with plans to build as many as 400 apartments and townhomes aimed at renters who want to live in or near the central city. D

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Einstein Bagels closing two Tarrant locations

Einstein Bagels is closing two Tarrant County locations, part of a series of 39 closings around the country, according to the company’s owners, JAB Holding Co.

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Berkshire Hathaway company acquires Fort Worth firm

M&M Manufacturing, a producer of sheet metal products for the air distribution and ventilation market based in Fort Worth, has been acquired by MiTek Industries Inc., a subsidiary of Warren Buffett’s Berkshire Hathaway Inc.,

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Plans for Grand Prairie indoor ski resort, Hard Rock Hotel evaporate

Plans for a $215 million indoor ski resort and Hard Rock Hotel in Grand Prairie have been shelved. Sherman Thurston, a member of the development team, sent a

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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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