Independent Bank Group, the parent company of Independent Financial, will be acquired by Florida-based SouthState Corporation, according to a May 20 news release.
The details
The combined companies will hold over $65 billion in assets, according to a release from Independent Financial. The roughly $2 billion transaction is expected to be completed in early 2025, a news release stated. Independent Financial customers can continue regular banking services ahead of the company’s conversion to SouthState Bank.
"We are excited about the opportunity to join SouthState, a company whose culture, business model and credit discipline matches well with ours," David R. Brooks, chairman and CEO of Independent Bank Group, said in the release.
