TDECU has announced a definitive agreement to acquire Sabine State Bank and Trust which will be one of the largest credit union acquisitions of a commercial bank to date. Sabine, with its $1.2 billion in assets and specialization in commercial loans, particularly in oil, gas, agriculture, and energy sectors, complements TDECU’s member-focused mission and will significantly extend its commercial lending capabilities. This strategic move not only expands TDECU’s footprint across Texas and Louisiana, it also represents a growth trajectory for the credit union, emphasizing its vision to augment financial services offered to members, enhance its balance sheet strength, and further consolidate its position within the financial sector. The acquisition aligns with TDECU’s growth journey and helps diversify its loan portfolio, contributing to greater stability during economic shifts. It also promises to enable TDECU to provide additional value to its members as well as to Sabine’s customers, who are assured of continued premium service and more comprehensive financial products. Expected to close in early 2025 and subject to regulatory approvals, the merger will swell TDECU’s assets to roughly $6 billion and its membership to 471,000. The addition of Sabine’s 51 branches will improve access to financial services in underserved communities, reinforcing TDECU’s commitment to being financial solvers for everyday needs and advocates for community enrichment.

Banking and Credit Unions, Commercial Lending,Houston, Texas, Many, Louisiana

https://www.globenewswire.com/news-release/2024/04/30/2872439/0/en/TDECU-Signs-Definitive-Agreement-to-Acquire-Sabine-State-Bank-and-Trust-to-Increase-Commercial-Banking-Opportunities-in-Texas-and-Louisiana.html