located in one of the fastest growing counties in Texas, Collin County is home to many major corporations like Frito-Lay, EDS, JCPenney, etc. Residents of Collin County enjoy a median household income that's nearly twice the Texas average. Collin is the wealthiest county in Texas, and many of its towns and neighborhoods are home to the corporate elite of the Dallas area.

Texas banks have a scarcity factor in that there are not many that are publicly traded. VPFG will make for a nice acquisition candidate in the future, but not for several years. BBV bought Compass for 3.4 X book value.


BBVA loves to buy Texas banks at a rich premium.

SAN FRANCISCO (MarketWatch) -- Banco Bilbao Vizcaya Argentaria SA announced two acquisitions worth more than $2.5 billion on Monday as Spain's second-largest bank expands more in the U.S.

agreed to buy Texas Regional Bancshares Inc. for $2.16 billion, or $38.90 a share in cash. That's a 14% premium to Friday's closing price. Texas Regional shareholders could get another 10 cents a share in a special dividend depending on how a bad loan issue is resolved before the deal closes, BBVA added.

Later on Monday, BBVA announced another deal, purchasing State National Bancshares Inc. (SNBI also based in Texas, for $480 million, or $38.50 a share. That's a 24% premium to Friday's closing price.
Spanish banks have been expanding in the U.S. in recent years, partly to tap into the country's growing Hispanic population. BBVA acquired another Texas bank, Laredo National Bancshares, for $850 million in 2004.

The acquisition solidifies BBVA's presence in the U.S., particularly Texas, as it moves to take advantage of the large immigrant banking clientele along the U.S.-Mexican border. The purchase price represents a 16% premium to Compass' closing stock price on Wednesday and a 39.5% premium to the bank's core deposits.

BBVA has made several small acquisitions in the state over the last two years, including Texas Regional Bancshares of McAllen and State National Bancshares of Fort Worth last June. In 2005, BBVA acquired Laredo National Bancshares, which gave the company 45 branches near the Mexican border.