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BASTROP - Bastrop Bancshares, Inc. (“Bastrop Bancshares”), the holding company for First National Bank of Bastrop, announced that it has entered into an agreement to acquire Columbus Bancorp, Inc. (“Columbus Bancorp”), the holding company for The First State Bank, based in Columbus, for cash consideration.
The transaction has been unanimously approved by the Boards of Directors of both Bastrop Bancshares and Columbus Bancorp and is expected to close in the third quarter of 2026, subject to customary closing conditions, including the receipt of all required regulatory approvals.
The combination of Bastrop Bancshares and Columbus Bancorp creates a stronger community banking franchise with an expanded presence across Central Texas. The transaction is expected to generate meaningful benefits for both institutions, including:
• Enhanced scale and market penetration in Bastrop, Colorado and Falls County.
• A complementary customer base and loan portfolio with limited overlap.
• Improved operational efficiency and technology investment capacity.
• Enhanced loan and deposit products and locations to better serve our communities.
• Strengthened ability to serve commercial, agricultural, and consumer customers throughout Central Texas.
Upon completion of the merger, the combined institution will have total assets of approximately $1.25 billion, total loans of approximately $750 million, and total deposits of approximately $1.1 billion, making it one of the premier community banking franchises in the Central Texas region.
“This merger reflects our commitment to building a community bank that serves the evolving needs of our customers across Central Texas. From the beginning of our discussions, it was clear there was strong cultural alignment between our banks and a genuine commitment to both our customers and the communities we serve. Pat Moeller is an incredible community banker, and we are fortunate to have the opportunity to bring him and his incredible team into our bank family. Columbus is a great community with accelerating growth, and for more than 113 years The First State Bank has built an incredible tradition of service and trust,” said Stephen Lee, President & Chief Executive Officer, Bastrop Bancshares, Inc.
“After careful consideration, our Board unanimously concluded that partnering with Bastrop Bancshares represents the best path forward for our shareholders, customers, and employees. We are excited to partner with Bastrop Bancshares as we share a common commitment to community banking. We look forward to the opportunities this combination will create,” said Pat Moeller, Chairman, President & Chief Executive Officer, Columbus Bancorp, Inc.
Hillworth Bank Partners served as the exclusive financial advisor to Columbus Bancorp in connection with the transaction and issued a fairness opinion. Larry Temple served as legal advisor to Columbus Bancorp, and Fenimore Kay Harrison LLP served as legal advisor to Bastrop Bancshares.
