DALLAS--(BUSINESS WIRE)--Jan. 1, 2019--
Veritex Holdings, Inc. (NASDAQ: VBTX), the holding company for Veritex
Community Bank, completed its acquisition of Houston-based Green
Bancorp, Inc., the holding company for Green Bank, on January 1st,
2019. This is Veritex’s seventh acquisition in its eight-year history,
making it one of the ten largest banks headquartered in Texas. Veritex
Bank now has 43 full-service branch locations in Texas, with a
concentration in the DFW and Houston metroplexes.
Green Bancorp reported total assets of $4.4 billion, total deposits of
$3.4 billion, and total equity capital of $490.2 million, as of the end
of the third quarter of 2018. The combined company will have
approximately $8 billion in assets.
“Our vision for Veritex Community Bank is to continue to build the
highest quality community-focused business bank in Texas. The
acquisition of Green aligns with our vision to acquire
highly-profitable, quality Texas banks with talented management teams,”
said Veritex Chairman and Chief Executive Officer C. Malcolm Holland.
“This acquisition more than doubles our size in terms of employees,
assets and branch locations, and enhances our value proposition to be
the bank of choice for businesses in our markets.”
About Veritex Bank
Veritex Community Bank is a mid-sized community bank serving its
customers with a full suite of banking products and services. Veritex
bank has total assets of approximately $8 billion. Veritex bank
specializes in providing depository and credit services to retail and
small- to mid-size businesses. The name “Veritex” is derived from the
Latin word “veritas,” meaning truth, and “Texas.” Veritex bank was
founded in 2010 and now has 43 branches located in Dallas, Fort Worth,
Austin, Honey Grove and Houston and one located in Louisville, KY.
Forward-Looking Statements
This press release includes “forward-looking statements,” within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are based on various facts and derived
utilizing important assumptions, current expectations, estimates and
projections and are subject to known and unknown risks, uncertainties
and other factors that may cause actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Forward-looking statements include, without limitation,
statements relating to the impact Veritex expects its acquisition of
Green Bancorp to have on Veritex’s operations, financial condition, and
financial results, and Veritex’s expectations about its ability to
successfully integrate the combined businesses and the amount of cost
savings and overall operational efficiencies Veritex expects to realize
as a result of the acquisition. Forward-looking statements may also
include statements about Veritex’s future financial performance,
business and growth strategy, projected plans and objectives, as well as
other projections based on macroeconomic and industry trends, which are
inherently unreliable due to the multiple factors that impact economic
trends, and any such variations may be material. Statements preceded by,
followed by or that otherwise include the words “believes,” “expects,”
“anticipates,” “intends,” “projects,” “estimates,” “plans” and similar
expressions or future or conditional verbs such as “will,” “should,”
“would,” “may” and “could” are generally forward-looking in nature and
not historical facts, although not all forward-looking statements
include the foregoing. Further, certain factors that could affect future
results and cause actual results to differ materially from those
expressed in the forward-looking statements include, but are not limited
to, the possibility that the businesses of Veritex and Green will not be
integrated successfully, that the cost savings and any synergies from
the acquisition may not be fully realized or may take longer to realize
than expected, disruption from the acquisition making it more difficult
to maintain relationships with employees, customers or other parties
with whom Veritex has (or Green had) business relationships, diversion
of management time on integration-related issues, the reaction to the
transaction of the companies’ customers, employees and counterparties
and other factors, many of which are beyond the control of Veritex. We
refer you to the “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” sections of
Veritex’s Annual Report on Form 10-K for the year ended December 31,
2017 and any updates to those risk factors set forth in Veritex’s
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other
filings, which have been filed with the SEC and are available on the
SEC’s website at www.sec.gov.
If one or more events related to these or other risks or uncertainties
materialize, or if Veritex’s underlying assumptions prove to be
incorrect, actual results may differ materially from what Veritex
anticipates. Accordingly, you should not place undue reliance on any
such forward-looking statements. Any forward-looking statement speaks
only as of the date on which it is made. Veritex does not undertake any
obligation, and specifically declines any obligation, to update or
revise any forward-looking statements, whether as a result of new
information, future developments or otherwise. All forward-looking
statements, expressed or implied, included in this press release are
expressly qualified in their entirety by the cautionary statements
contained or referred to herein.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190101005019/en/
Source: Veritex Holdings, Inc.
Susan Caudle
Veritex Community Bank
scaudle@veritexbank.com;
972-349-6132
