Jackson Walker L.L.P. successfully represented ST Financial Group, Inc. and its subsidiary, Spirit of Texas Bank, in its merger with Peoples Bank, which was completed on July 12, 2013.
Based in College Station, Spirit of Texas has $454 million in assets and 12 locations, including nine full-service banking centers. Peoples Bank has $71 million in assets and branches in Colleyville and Grapevine, Texas. Spirit of Texas Bank will be the only surviving entity in the merger, and the Peoples Bank offices in Colleyville and Grapevine will become the newest Spirit of Texas Bank banking centers.
Jackson Walker partner Jim Pledger represented ST Financial in the transactions. Mr. Pledger is a member of the firm’s Corporate & Securities and Finance practices and has extensive experience representing financial institutions in a broad range of transactions.
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