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# SouthState Corporation Announces $2 Billion All-Stock Acquisition of Independent Bank Group
- URL: https://www.theglobalbanker.com/southstate-corporation-acquires-independent-bank-group-2-billion-texas/
- Published: 2024-05-20T11:34:00.000Z
- Updated: 2026-10-02T12:56:14.000Z
- Description: SouthState Corporation has agreed to acquire Texas-based Independent Bank Group in an all-stock deal worth around $2 billion, extending SouthState's footprint into Texas and Colorado.
- Author: TGB Editorial Team
- Tags: M&A, Americas, #archive

SouthState Corporation has announced a definitive agreement to acquire Independent Bank Group in an all-stock transaction valued at approximately $2 billion, based on SouthState's closing share price of $80.85, the Winter Haven, Florida-based regional bank disclosed on 20 May 2024\. The deal marks SouthState's entry into Texas through Independent Bank Group's franchise in the Dallas/Fort Worth, Austin and Houston areas; the deal also adds Independent's Colorado Front Range business. The combination extends SouthState's regional banking footprint beyond its existing core in the southeastern United States.

Independent Bank Group had $18.9 billion in assets and $15.7 billion in deposits at the time of the announcement. 

#### DEAL STRUCTURE

The all-stock structure of the deal means Independent Bank Group shareholders will receive SouthState shares in exchange for their current holdings. 

#### APPROVALS AND CLOSING

The transaction is subject to approval from the shareholders of both SouthState Corporation and Independent Bank Group, as well as the required regulatory approvals. Both boards approved the agreement by the unanimous vote of directors present.

The companies said they expected the deal to close by the end of the first quarter of 2025, creating a group with pro forma total assets of about $65 billion.