North Dakota's First International Bank to Acquire Dallas's Dominion Bank, Entering Texas; About $7 Billion in Assets
North Dakota-based First International Bank & Trust (FIBT) announced on November 11 that it has reached an agreement to acquire Dominion Bank of Dallas, Texas, entering the Texas market for the first time. Dominion Bank has $650 million in assets and three branches; terms of the deal were not disclosed. After closing, Dominion Bank will adopt the First International Bank name. The deal is expected to close in the first quarter of 2027, subject to regulatory and shareholder approval.
After the merger, First International Bank will have about $7 billion in total assets and 31 branches across North Dakota, South Dakota, Minnesota, Arizona and Texas. It is the bank's first expansion of its footprint into Texas and its largest acquisition in recent years. North Dakota banks are known for their soundness, and First International Bank is one of the state's largest community banks; the acquisition is seen as an important step in its expansion into the southern US market.
Source: Dealroom
Published by GSM · USA (original Chinese edition)
Photo: 图：达拉斯市中心天际线。图片来源：Wikimedia Commons，Matthew Rutledge 摄，CC BY 2.0。 Image: The downtown Dallas skyline. Source: Wikimedia Commons, photo by Matthew Rutledge, CC BY 2.0.
