Allegiance Bancshares, Inc. and CBTX, Inc. Announce FDIC Approval of Merger of Equals
16 Junho 2022 - 10:15AM
Allegiance Bancshares, Inc. (NASDAQ: ABTX) (“Allegiance”), the
holding company of Allegiance Bank, and CBTX, Inc. (NASDAQ: CBTX)
(“CBTX”), the holding company of CommunityBank of Texas, N.A.,
today jointly announced receipt of regulatory approval from the
Federal Deposit Insurance Corporation (“FDIC”), which follows the
recent approval from shareholders of both companies. The merger
remains subject to the receipt of regulatory approvals from the
Board of Governors of the Federal Reserve System and the Texas
Department of Banking. We expect to close the merger in the third
quarter after receipt of such approvals and the satisfaction of
other customary closing conditions.
About Allegiance Bancshares, Inc.
As of March 31, 2022, Allegiance was a $7.15 billion asset
Houston, Texas-based bank holding company. Through its wholly owned
subsidiary, Allegiance Bank, Allegiance provides a diversified
range of commercial banking services primarily to small- to
medium-sized businesses and individual customers in the Houston
region. As of March 31, 2022, Allegiance Bank operated 27
full-service banking locations in the Houston region, which we
define as the Houston-The Woodlands-Sugar Land and Beaumont-Port
Arthur metropolitan statistical areas. Visit www.allegiancebank.com
for more information.
About CBTX, Inc.
As of March 31, 2022, CBTX, Inc. was a $4.45 billion asset bank
holding company for CommunityBank of Texas, N.A., a community bank,
offering commercial banking solutions to small and mid-sized
businesses and professionals with 34 banking locations across the
Houston, Dallas, Beaumont and surrounding communities in Texas.
Visit www.communitybankoftx.com for more information.
Forward-Looking Statements
Certain statements in this press release which are not
historical in nature are intended to be, and are hereby identified
as, “forward-looking statements” for purposes of the safe harbor
provided by Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as
amended.
These statements include, but are not limited to, statements
about the benefits of the proposed merger of CBTX and Allegiance,
including future financial performance and operating results,
statements related to the expected timing of the completion of the
merger, the combined company’s plans, business and growth
strategies, objectives, expectations and intentions, and other
statements that are not historical facts, including projections of
macroeconomic and industry trends, which are inherently unreliable
due to the multiple factors that impact economic trends, and any
such variations may be material. Forward-looking statements may be
identified by terminology such as “may,” “will,” “should,” “could,”
“scheduled,” “plans,” “intends,” “projects,” “anticipates,”
“expects,” “believes,” “estimates,” “potential,” “would,” or
“continue” or negatives of such terms or other comparable
terminology.
All forward-looking statements are subject to risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of Allegiance and CBTX to differ
materially from any results expressed or implied by such
forward-looking statements. Such factors include, among others: (1)
the risk that the cost savings and any revenue synergies from the
merger may not be fully realized or may take longer than
anticipated to be realized; (2) disruption to the parties’
businesses as a result of the pendency of the merger; (3) the
occurrence of any event, change or other circumstances that could
give rise to the termination of the merger agreement; (4) the risk
that the integration of each party’s operations will be materially
delayed or will be more costly or difficult than expected or that
the parties are otherwise unable to successfully integrate each
party’s businesses into the other’s businesses; (5) the amount of
the costs, fees, expenses and charges related to the merger; (6)
the ability by each party to obtain required regulatory approvals
of the merger (and the risk that such approvals may result in the
imposition of conditions that could adversely affect the combined
company or the expected benefits of the transaction); (7)
reputational risk and the reaction of each company’s customers,
suppliers, employees or other business partners to the merger; (8)
the failure of the closing conditions in the merger agreement to be
satisfied, or any unexpected delay in closing the merger; (9) the
possibility that the merger may be more expensive to complete than
anticipated, including as a result of unexpected factors or events;
(10) the dilution caused by CBTX’s issuance of additional shares of
its common stock in the merger; (11) general competitive, economic,
political and market conditions; and (12) other factors that may
affect future results of Allegiance and CBTX including changes in
asset quality and credit risk; the inability to sustain revenue and
earnings growth; changes in interest rates and capital markets;
inflation; customer borrowing, repayment, investment and deposit
practices; the impact, extent and timing of technological changes;
capital management activities; and other actions of the Board of
Governors of the Federal Reserve System, Federal Deposit Insurance
Corporation and Office of the Comptroller of the Currency and
legislative and regulatory actions and reforms.
Additional factors which could affect future results of
Allegiance and CBTX can be found in Allegiance’s Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on
Form 8-K and CBTX’s Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q, and Current Reports on Form 8-K, in each case filed
with the SEC and available on the SEC’s website at https://
www.sec.gov. Each of Allegiance and CBTX disclaims any obligation
and does not intend to update or revise any forward-looking
statements contained in this communication, which speak only as of
the date hereof, whether as a result of new information, future
events or otherwise, except as required by federal securities laws.
As forward-looking statements involve significant risks and
uncertainties, caution should be exercised against placing undue
reliance on such statements.
Allegiance Bancshares,
Inc.ir@allegiancebank.com
CBTX,
Inc.investors@CBoTX.com
Allegiance Bancshares (NASDAQ:ABTX)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Allegiance Bancshares (NASDAQ:ABTX)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024