Texas United will merge into Prosperity, according to the terms of the deal that was announced on July 19th. The boards of both banks have approved the deal, and it is expected to close during the first quarter of 2007 following customary regulatory approvals and approval from shareholders of both companies.

Powell Goldstein senior banking partner Walter Moeling IV, partner Katherine Koops and associate Robert Klingler, all in the Atlanta office, lead the group of lawyers representing Texas United in the deal. Others from Powell Goldstein's Atlanta office include partner Carol Newman for corporate issues; partner Steven Schaffer and associate Edmund Emerson for employee benefits issues; associate Marc Glenn for real estate matters; partner Frank Crisafi for tax issues, partner Kathryn "Kalee" Vargo for labor and employment matters; and partners Hilary Harp and Laurence Colton for intellectual property issues. Also, counsel Christopher Thompson of Powell Goldstein's Washington, D.C. office, is handling environmental matters.

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