Southwest Bank (Odessa, TX) entered into an agreement to acquire Affiliated Bank, National Association from Bancaffiliated Inc. (OTCPK:BAFI) on December 8, 2019. The total consideration is consists of stock and cash. Affiliated Bank and SouthWest Bank will merge with SouthWest Bank being the surviving charter. The transaction is subject to customary conditions, including shareholder and regulatory approvals. The transaction has been approved by the Board of Directors of both companies and is currently expected to close during the second quarter of 2020. Stephens Inc. served as financial advisor to BancAffiliated and rendered a fairness opinion to the Board of Directors of BancAffiliated. Alston & Bird LLP acted as legal advisor to BancAffiliated. Commerce Street Capital served as financial advisor to Odessa SouthWest and rendered a Fairness Opinion to the Board of Directors of Odessa SouthWest. Thompson & Knight LLP acted as legal advisor to Odessa SouthWest.