Guaranty Bank & Trust acquires Katy bank

Katy-based Westbound Bank is being acquired by Guaranty Bank & Trust in a cash and stock deal, the financial institutions announced Monday.

The acquisition of Westbound's four Houston-area locations will give the combined bank 32 branches in 24 Texas markets. The deal is expected to close in the second quarter and will give the bank more than $2.2 billion in assets.

"Joining an established and growing Texas community bank organization like Guaranty is an opportunity to better serve our customers and market, while continuing our focus on community banking and local decision making," Troy England, Westbound's president and CEO, said in the news release.

England will become the Houston-area chairman for Guaranty and lead the bank's local expansion efforts. The purchase of Westbound is Guaranty's first acquisition into the Houston market.