Plains Bancorp acquires Childress Bancshares

Plains Bancorp, Inc., the parent company of First United Bank, has announced that as of Aug. 31, they have acquired Childress Bancshares, Inc., the parent company of First Bank and Trust of Childress.

Following the acquisition, the operations of First Bank and Trust will continue as a full-service Banking Center of First United Bank operated by existing personnel of First Bank and Trust.

First United Bank operates 14 banking centers located throughout West and North Texas. As of March 31, First United Bank reported total assets of $1.6 billion and total deposits of $1.4 billion.

Larry Johnson, who served as president and CEO of First Bank and Trust of Childress, will become market president and an advisory director at First United Bank.

First Bank and Trust of Childress operates three banking centers in Childress and Paducah. As of March 31, First Bank and Trust reported total assets of $149 million and total deposits of $137 million.