Two Texas Community Banks to Merge in $1B Deal

DALLAS AND HOUSTON — Dallas-based Veritex Holdings Inc. (NASDAQ: VBTX), the parent company of Veritex Community Bank, and Houston-based Green Bancorp (NASDAQ: GNBC) have entered into an agreement that will merge Green and its subsidiaries with the Veritex brand. The transaction, which is valued at approximately $1 billion, will create a new lending institution with $7.5 billion in assets that will operate 43 branches across the state. The deal calls for Green’s shareholders to receive 0.79 shares of Veritex common stock for each share of Green common stock. The stocks are currently trading at about $32.77 per share for Veritex and $25.89 per share for Green. Closing is expected to occur during the first quarter of 2019.