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Banking Veritex completes acquistion of Green Bank

Veritex completes acquistion of Green Bank

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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 Jan. 1, 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 areas. Dallas-based Veritex has seven locations in Tarrant County, several that it added when it acquired Liberty Bank in 2017.

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. The deal was valued at approximately $1 billion, the two banks said when the acquisition was first announced..

“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.”

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