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Independent Bank Group to acquire Live Oak State Bank

Independent Bank Group, the holding company for Independent Bank, announced that Independent Bank Group has entered into a definitive agreement to acquire Live Oak Financial and its subsidiary, Live Oak State Bank, Dallas, Texas, a Texas state chartered bank with total assets of $122.9M total deposits of $103.9M, and total equity capital of $13.9M at June 30. Under the terms of the Agreement, Independent Bank Group, "IBG", will pay aggregate cash consideration of $10M and issue approximately 292,646 shares of IBG common stock, resulting in an aggregate transaction value of approximately $20M...Independent Bank Group anticipates that the acquisition will be accretive to earnings per share immediately and slightly dilutive to tangible book value at closing with the dilution earned back in less than two years