SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2019

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

13. SUBSEQUENT EVENTS

On July 25, 2019, the Company entered into a definitive agreement with West Texas State Bank (“WTSB”) in an all-cash merger valued at $76.1 million. The agreement provides for the merger of WTSB with and into City Bank, with City Bank as the surviving entity. This transaction is expected to close in the fourth quarter of 2019, subject to the satisfaction or waiver of customary closing conditions, including approval by WTSB’s shareholders and the receipt of regulatory approvals.