Subsequent Events

9 Months Ended

Sep. 30, 2014

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

19. SUBSEQUENT EVENTS

On October 17, 2014, the Company completed the acquisition of SP Bancorp, Inc. and its wholly owned subsidiary SharePlus Bank (collectively “SharePlus”). SharePlus Bank was a Texas chartered state bank headquartered in Plano, Texas, with four branches, two in Plano, Texas, one in Dallas, Texas and one in Louisville, Kentucky.  The expansion complements the Company’s Dallas area growth.  As of September 30, 2014, SharePlus, on a consolidated basis, had $348.7 million in total assets, $248.2 million in loans, $280.5 million in deposits and $33.7 million in stockholders’ equity.

Pursuant to the terms of the acquisition agreement, the Company paid $46.2 million in cash for all outstanding common stock of SP Bancorp, Inc.  The initial accounting for the business combination is in process as of the date of filing. For the nine months ended September 30, 2014, the Company incurred approximately $885 thousand of pre-tax merger related expenses related to the SharePlus acquisition.

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