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MERGER ACTIVITY | 12 Months Ended
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Dec. 31, 2017
MERGER ACTIVITY |
MERGER ACTIVITY | NOTE 2: MERGER ACTIVITY MC Bancshares, Inc. In February 2015, the Company completed its acquisition of MC Bancshares, Inc., or MCBI, including its subsidiary Memorial City Bank, a privately‑held bank holding company and bank located in Houston, Texas. The Company purchased all the outstanding shares of MCBI for $56.9 million in cash funded through a note payable in the amount of $31.0 million and a special distribution from the Bank in the amount of $25.0 million. Expenditures related to the acquisition of MCBI totaled $1.4 million and are reported as a component of other noninterest expense the year ended December 31, 2015 in the accompanying consolidated statements of income.

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