American Momentum buys bank

TAMPA — Tampa-based American Momentum Bank agreed to acquire Brazos Valley Bank, which is based in College Station, Texas. Financial terms were not disclosed.

American Momentum Bank is led by chairman and CEO Don Adam. Sam Davis is president and chief operating officer. The bank has $664.3 million in assets as of March 31, and earned a net income of $705,000 in the first quarter of this year.

In the fourth quarter of 2010, American Momentum earned $7.86 million in profits, according to Federal Deposit Insurance Corp. data.