Sabine State Bank & Trust Company, a commercial bank headquartered in Many, LA, with more than $1.2 billion in assets. The combined entity is expected to provide access to a broad variety of lending products to all communities served by TDECU and will expand TDECU’s presence in lending to small business owners in oil and gas, agriculture, and energy.
At closing, the combined institution will be expected to have approximately $6 billion in assets and 471,000 Members. The acquisition will expand the field of membership for TDECU, which has a significant presence in Greater Houston, and a growing presence in the Dallas, Fort Worth and Victoria areas.
“TDECU is on a growth journey to expand across the state of Texas and beyond,” said President & CEO Isaac Johnson. “Our mission is helping people navigate their financial journeys, and be financial solvers for our Members’ everyday needs. This acquisition extends our reach to more communities, diversifies our commercial portfolio, and makes our balance sheet even stronger. If our balance sheet is stronger that will enable TDECU to continue to deliver and do more for our existing Members. Together, we will strengthen ties with our membership, partners, and local communities”
Founded more than 120 years ago, Sabine has a footprint of 51 branches across Louisiana and east Texas. It specializes in commercial loans with industry concentration in oil and gas, forestry, timber and agriculture, and has many long-standing depository relationships.
“We are excited to become a part of the TDECU family and we share their commitment to strengthening our communities and empowering our customers to build better financial futures,” said Lee H. McCann, President and CEO of Sabine. “Our customers can rest assured that they will continue to experience the best-in-class service they count on from us. Best of all, that service will be enhanced with an even wider array of financial products to help them better secure their futures.”
TDECU has a healthy balance sheet that is focused on consumer deposits and lower-risk investment strategies. Sabine’s strong commercial operations will further diversify the credit union’s loan concentration and support TDECU’s overall growth strategy, bolstering stability and resiliency to provide compelling service offerings to its Members during economic and market fluctuations.
The transaction is anticipated to be completed early 2025, subject to receiving all required regulatory and shareholder approvals and satisfying all other closing conditions. TDECU members and Sabine customers should continue to conduct their business as usual until the closing.
