HOUSTON, Feb. 04, 2019 (GLOBE NEWSWIRE) -- Allegiance Bank, the wholly owned subsidiary of Allegiance Bancshares, Inc. (NASDAQ: ABTX), has completed the previously announced purchase of LoweryBank, the Sugar Land location of Huntington State Bank. In connection with the purchase, Allegiance Bank acquired approximately $44.6 million in loans and $15.7 million in customer deposits. Allegiance Bank plans to consolidate its existing Sugar Land bank office into this new bank office location, which is less than one mile away.

“We are excited that this branch acquisition gives us a prominent location southwest of Houston, and we welcome the former LoweryBank customers as well as our many Allegiance customers who call Sugar Land home,” said Ray Vitulli, President of Allegiance Bank. “We look forward to extending our highly personalized customer service experience and professional team of bankers to serve our customers’ banking needs in this vibrant community.”

About Allegiance Bancshares, Inc.

As of December 31, 2018, Allegiance was a $4.66 billion asset Houston, Texas-based bank holding company. Through its wholly owned subsidiary, Allegiance Bank, Allegiance provides a diversified range of commercial banking services primarily to Houston metropolitan area-based small to medium sized businesses and individual customers. Allegiance’s super-community banking strategy was designed to foster strong customer relationships while benefiting from a platform and scale that is competitive with larger local and regional banks. As of December 31, 2018, Allegiance Bank operated 28 full-service banking locations, with 27 bank offices and one loan production office in the Houston metropolitan area and one bank office location in Beaumont, just outside of the Houston metropolitan area. Visit www.allegiancebank.com for more information.