Banking sector sees multiple acquisitions across five U.S. states

Several banking institutions have announced acquisition agreements across five U.S. states. Third Coast Bancshares, based in Houston, has agreed to acquire Great Plains Bancshares in an all-stock transaction valued at approximately $239.6 million. This merger is expected to create a combined organization with roughly $9 billion in assets and will establish Third Coast’s presence in Oklahoma.

Other notable deals include:

• Byline Bancorp in Chicago will acquire Illinois State Bancorp for $87.9 million in cash and stock.

• TowneBank of Virginia has agreed to purchase blueharbor bank in North Carolina for $150 million in cash and stock.

• Arbor Bancorp in Michigan will acquire Huron Valley Bancorp for $52.1 million in cash.

• Blackhawk Bancorp. of Illinois has reached an agreement to buy Liberty Bancorp. in Iowa, though the price was not disclosed.