Texas-based Panola National Bank Acquisition Closes; Stinson Serves as Legal Counsel
On May 14, 2021, Panola National Bancshares, Inc. and its wholly-owned subsidiary, Panola National Bank based in Carthage, Texas, closed on its sale to VeraBank, Inc., and its wholly-owned subsidiary, VeraBank, National Association, based in Henderson, Texas. The agreement was announced in December 2020.
Panola National Bank reported assets of $125.3 million to S&P Global Market Intelligence as of September 30, 2020, while VeraBank reported $2.89 billion in assets as of the same date.
Dallas Partner Robert Flowers served as legal counsel to Panola on this transaction