First Financial Bankshares in Abilene, Texas, has agreed to buy 4Trust Mortgage.
The $5.8 billion First Financial said in a press release Wednesday that it will pay $1.9 million in cash for 4Trust in a deal that should close next month.
First Finanical is buying a residential mortgage lender that has three offices in the Texas cities of Fort Worth, Dallas and North Richland Hills. Last year, the company originated about $175 million in mortgages that were then sold in the secondary market.
Troy Fore, 4Trust’s president and chief executive, will become president of First Financial Mortgage and will be responsible for all of the bank’s mortgage lending.
First Financial agreed earlier this month to buy FBC Bancshares in Conroe, Texas, for $59 million in stock.
