It was the first major acquisition of the Huntsman Group, which owns a majority stake in the online banking service.
The deal is part of a larger expansion plan that will see the company reach 1 billion active users in the next year, according to its CEO, Brian Cook.
The Huntsman family owns a stake in Harris Bank, which is one of the largest banks in the world.
“The acquisition of Harris Bank is a huge deal for the company and the company has a massive future ahead of it,” said Brian Cook in a statement.
“We believe the combination of Harris and the Huntsmans, combined with the ability to create new ways to connect people, will help the company grow and evolve.”
The Harris family has been building a strong relationship with Facebook since it was founded in 2004.
In August, the family said it would invest $100 million to expand its reach, which includes the company’s new Facebook News Feed app and mobile app.
The Harris group also owns The Associated Press, a digital media company, which will be the third-largest digital news source in the United States.