The $2.1 billion Texas Dow Employees Credit Union said it has agreed to buy an eighth Whitney Bank retail branch location in the Houston area.
The branch is in Shenandoah, Texas, just north of Houston in The Woodlands, TDECU said, and joins the seven other Whitney Bank branches the 178,400-member TDECU bought this summer from the bank’s parent, Hancock Holding Co.
The branch had been designated for closure, TDECU said in its announcement Thursday. Closing on the deal is expected by the end of this year and all eight are being remodeled for re-opening as TDECU branches, the credit union said.
“The addition of the Woodlands branch location complements our other locations in the Houston area, and will enable the credit union to better serve our members in this region. We are working with Whitney Bank to ensure a smooth transition at the acquired locations,” said TDECU President/CEO Stephanie Sherrodd.
Lake Jackson-based TDECU said it currently has 32 service locations, including 25 branches.