Houston's Green Bank has agreed to acquire the Dallas branch of La Jolla Bank from its current owner, OneWest Bank, FSB.

The deal, which is still subject to regulatory approval, is expected to be finalized by the fourth quarter of 2010. La Jolla was closed down by the Office of Thrift Supervision in February, effectively transferring its deposits and assets to OneWest Bank of Pasadena. The Dallas banking operations continued uninterrupted under the La Jolla brand.

"We've been looking at the North Texas market for some time," Geoff Greenwade, the president of Green Bank, said in a statement. "Our goal is to increase lending operations with mortgages, lines of credit, commercial and owner-occupied real estate loans in the $1 - 15 million dollar range."

Until regulatory approval is obtained, OneWest's banking staff will continue serving clients at its Parkway branch. Offices in southern California will not be affected by the Dallas sale.

The acquisition comes alongside Green Bank's recent capital raising of $100 million, which will be used to support its commercial banking expansion plans in central Texas in the coming months.