From L to R: Paul Sklar, CFO of Sabine State Bank and Trust; Lee McCann, president/CEO of Sabine State Bank and Trust; Dave Sikora, TDECU board chairman; Isaac Johnson, TDECU president/CEO; Jim Cole, Sabine board chairman; John Whitehead, general counsel and chief compliance officer of Sabine State Bank and Trust; Aparna Dave, TDECU chief legal officer and general counsel.
Credit/TDECU
The $4.6 billion TDECU in Lake Jackson, Texas said it plans to acquire the $1.3 billion Sabine State Bank and Trust in Many, La., the second largest credit union bank buy deal this year.
Financial terms of the definitive agreement were not disclosed. It is expected to be finalized by early 2025 pending regulatory approvals and other closing conditions, the financial institutions said in a prepared statement released Tuesday morning.
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