Bastrop Bancorp is expanding in central Texas by acquiring Columbus Bancorp..The deal is expected to close in the third quarter of this year. Bastrop Bancorp is the holding company for First National Bank of Bastrop. Columbus Bancorp is the holding company for The First State Bank, Columbus, Texas.The combined company is expected to have $1.25 billion in assets, $750 million in total loans and $1.1 billion in total deposits. As of March 31, Bastrop Bancshares had $1.1 billion in assets. As of Dec. 31, Columbus Bancorp had $154.8 million in assets. Columbus is a community of fewer than 4,000 residents between San Antonio and Houston. A community of nearly 10,000 people, Bastrop is 33 miles southeast of Austin. “From the beginning of our discussions, it was clear there was strong cultural alignment between our banks and a genuine commitment to both our customers and the communities we serve,” said Bastrop President and CEO Stephen Lee. Hillworth Bank Partners, Austin, was exclusive financial adviser to Columbus Bancorp and issued a fairness opinion. Larry Temple was legal adviser to the company, while Fenimore Kay Harrison LLP, Austin, was legal adviser to Bastrop Bancshares.
