Texas Independent Bancshares, the parent company of Texas First Bank, said Monday it completed its merger with Preferred Bancshares and its subsidiary, Preferred Bank.

The merger, announced in February, creates a company with $1.4 billion in assets and gives Texas City-based Texas First Bank 27 banking centers in seven Houston-area counties — Galveston, Harris, Jefferson, Brazoria, Liberty, Chambers and now Montgomery counties.

The merger, the largest to date for Texas First Bank, also gives the company about 300 employees.

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