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DALLAS-A Houston buyer has closed the $16.3-million buyout of a Dallas bank from a Chicago owner.

The newly acquired Abrams Centre National Bank operates leased locations at 9330 LBJ Freeway and 119 West Ovilla Rd. in the Glenn Heights neighborhood. As announced in early February, Houston-based Prosperity Bancshares Inc. bought the two-location operation from MB Financial Inc., headquartered in Chicago.

MB Financial let go of the asset, bought in 1996, to “concentrate its resources on its core commercial and consumer banking operations located primarily in the Chicago metropolitan area,” according to a corporate press release. MB Financial Bank has 35 locations in Chicago and the surrounding area. It also is the parent holding company for Union Bank in Oklahoma.

Just last year, the buyer acquired the two-location Bank of the Southwest in Dallas-Fort Worth. Prosperity Bancshares is a $1.8-billion bank holding company with 42 Texas branches and a long-range plan for a statewide expansion. The Abrams acquisition brings in assets of $93 million, deposits of about $69 million, with more than $50 million in loans and total equity of nearly $14 million.

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